Most Asian stock markets finished higher on Thursday led by Taiwan’s TAIEX (+1.19%). The local benchmark FBMKLCI (KLCI) inched up 1.22pts or 0.08% to end the day at 1,610.17. Most sectors ended in positive territory barring telecommunications (-1.20%), plantation (-0.51%) and consumer products (-0.25%). Top gainers for the day were energy (+3.36%), healthcare (+1.83%) and technology (+1.78%). Trading volume dropped to 5.91bn (down from 7.59bn on Wednesday) while trading value fell to RM4.35bn (down from RM5.28bn previously). Market breadth turned positive as 798 gainers beat 447 decliners.

The benchmark stayed relatively flat despite forming its fourth consecutive black candle yesterday. The flattening 20-day EMA continued to provide support while the trend line from the 1,632 high is capping gains. We maintain our view the index may stay rangebound in the near term with support seen at 1,590-1,600 levels. The index needs to overcome and close above the trend line (1,617) and 1,622 to confirm the swing up to retest of the 52-week high at 1,632 and beyond is underway. Our portfolio stays in risk-on mode this week. However, if KLCI closes below 1,599 by end of the day, we will revert our portfolio to *risk-off mode* next week.

Gainers: 798
Losers: 447
Unchanged: 453

DOW: 38,647.10 (-0.17%)
S&P500: 5,433.74 (0.23%)
NASDAQ: 17,667.56 (0.34%)
FTSE100: 8,163.67 (-0.63%)
DAX: 18,265.68 (-1.96%)
HSI: 18,112.63 (0.97)
STI: 3,324.53 (0.52%)
KLCI: 1,610.17 (0.08%)
​
USD: 4.7090 (-0.17%)
AUD: 3.1328 (0.40%)
SGD: 3.4904 (0.05%)
EUR: 5.0869 (0.29%)
GBP: 6.0198 (0.04%)
JPY: 2.9996 (-0.42%)
CNY: 0.6494 (-0.33%)
HKD: 0.6029 (-0.22%)
​
WTI: 78.62 (0.15%)
Brent: 82.75 (0.18%)
GOLD: 2,304.21 (-0.89%)
3rd MONTH FCPO: 3,936.00 (-0.68%)
Msia 10 yr bond yield: 3.8630 (0.13%)
US 10 yr bond yield: 4.2442 (-1.66%)
ICE LIBOR USD 3M: 5.6082 (0.00%)
Bitcoin Futures: 67,400 (-2.64%)
Source: Bloomberg

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