Most Asian stock markets finished higher on Thursday except for China and Thailand. The local benchmark FBMKLCI (KLCI) climbed 6.20pts or 0.39% to end the day at 1,614.73. All sectors closed positive barring plantation (-0.34%) and telecommunications (-0.07%). Utilities (+3.48%), property (+1.66%) and healthcare (+1.58%) were the leaders yesterday. Trading volume rose to 5.35bn (up from 4.28bn on Wednesday) while trading value increased to RM4.50bn (up from RM3.40bn previously). Market breadth turned positive once more after 770 gainers beat 475 decliners.

The benchmark formed an inside day, which signals indecision by the market. After 2 days of consolidation, we think that the benchmark is ready to resume on its uptrend. On the downside, we expect the KLCI to be supported by the 20-day EMA and the 1,590-1,600 level. A move above 1,622 ought to put the index on course for a retest of the 52-week high at 1,632. The immediate resistance stays at 1,620-1,625 and the following resistance band is at 1,642-1,646. Our portfolio stays in risk-on mode this week.

Gainers: 770
Losers: 475
Unchanged: 442

DOW: 38,886.17 (0.20%)
S&P500: 5,352.96 (-0.02%)
NASDAQ: 17,173.12 (-0.09%)
FTSE100: 8,285.34 (0.47%)
DAX: 18,652.67 (0.41%)
HSI: 18,476.80 (0.28%)
STI: 3,330.81 (0.02%)
KLCI: 1,614.73 (0.39%)
​
USD: 4.6950 (-0.06%)
AUD: 3.1222 (-0.02%)
SGD: 3.4851 (-0.04%)
EUR: 5.1082 (0.00%)
GBP: 6.0024 (0.00%)
JPY: 3.0177 (0.24%)
CNY: 0.6480 (-0.03%)
HKD: 0.6012 (-0.02%)
​
WTI: 75.55 (2.00%)
Brent: 79.87 (1.86%)
GOLD: 2,376.06 (0.88%)
3rd MONTH FCPO: 3,960.00 (1.38%)
Msia 10 yr bond yield: 3.8680 (-0.05%)
US 10 yr bond yield: 4.2870 (0.27%)
ICE LIBOR USD 3M: 5.5991 (-0.02%)
Bitcoin Futures: 71,740 (-1.01%)
Source: Bloomberg

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