Asian stock markets finished lower on Monday with Thailand’s SET (-1.06%) leading the losses in the region. The local benchmark FBMKLCI (KLCI) retraced 3.49pts or 0.22% to end the day at 1,614.37. It was a mixed day for the sectors with transportation (+1.78%), energy (+1.43%) and utilities (+1.16%) topping the gainers list. On the flip note, healthcare (-0.72%), plantation (-0.60%) and REIT (-0.22%) were the top laggards. Trading volume grew to 5.96bn (up from 5.73bn on Friday) but trading value eased further to RM3.30bn (down from RM4.05bn previously). Market breadth stayed positive with 628 gainers against 531 decliners.

The benchmark traded in a narrow range, forming a bearish engulfing pattern and giving up last Friday’s gains. The index needs to overcome and close above 1,622 to confirm the swing up to retest of the 52-week high at 1,632. Until then, we expect the index to stay rangebound as the immediate resistance at 1,620-1,625 is a tough nut to crack. The following resistance band is at 1,642-1,646. On the downside, we expect the KLCI to be supported by the 20-day EMA and the 1,590-1,600 level. Our portfolio stays in risk-on mode this week.

Gainers: 628
Losers: 531
Unchanged: 470

DOW: 38,868.04 (0.18%)
S&P500: 5,360.79 (0.26%)
NASDAQ: 17,192.53 (0.35%)
FTSE100: 8,228.48 (-0.20%)
DAX: 18,494.89 (-0.34%)
HSI: 18,366.95 (CLOSED)
STI: 3,332.08 (-0.26%)
KLCI: 1,614.37 (-0.22%)
​
USD: 4.7230 (0.66%)
AUD: 3.1108 (-0.48%)
SGD: 3.4891 (0.01%)
EUR: 5.0742 (-0.71%)
GBP: 5.9971 (-0.11%)
JPY: 3.0086 (0.51%)
CNY: 0.6517 (0.66%)
HKD: 0.6045 (0.67%)
​
WTI: 77.74 (2.93%)
Brent: 81.63 (2.52%)
GOLD: 2,310.88 (0.75%)
3rd MONTH FCPO: 3,919.00 (-1.41%)
Msia 10 yr bond yield: 3.8690 (0.18%)
US 10 yr bond yield: 4.4670 (0.76%)
ICE LIBOR USD 3M: 5.5956 (0.00%)
Bitcoin Futures: 70,390 (0.08%)
Source: Bloomberg

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