Most Asian stock markets extended gains on Monday with Indonesia’s JCI (+1.08%) continued to outperform the rest. The local benchmark FBMKLCI (KLCI) rose 8.11pts or 0.51% to end the day at 1,598.20. The broader market was lifted by utilities (+2.30%), energy (+1.59%) and property (+1.28%). On the flip note, telecommunications (-0.20%) was the only underperforming sector for the day. Trading volume fell to 3.66bn (down from 4.30bn on Friday) while trading value dropped to RM2.77bn (down from RM3.08bn previously). Market breadth stayed positive for the second day as 685 gainers beat 408 losers.

The benchmark formed its second white candle to kick start the second half of the year on a positive note. The index moved back above the 20-day EMA for the first time since 14th June. We had previously mentioned that a firm close above 1,593 may signal that a short-term rebound up to 1,600 is next. Is the 1.5-month consolidation from 1,632 over? Aggressive traders ought to start getting into the market now but keep a stop loss below 1,581. Further rallies above the downtrend line (1,606) from 1,632 would confirm that the longer-term uptrend has resumed. Falling below 1,581 may see the benchmark fall to test the 1,565-1,575 support next. NOTE: Our portfolio is in risk-off mode this week.

Gainers: 685
Losers: 408
Unchanged: 450

DOW: 39,169.52 (0.13%)
S&P500: 5,475.09 (0.27%)
NASDAQ: 17,879.30 (0.83%)
FTSE100: 8,166.76 (0.03%)
DAX: 18,290.66 (0.30%)
HSI: 17,718.61 (0.00%)
STI: 3,338.57 (0.17%)
KLCI: 1,598.20 (0.51%)
​
USD: 4.7137 (-0.08%)
AUD: 3.1486 (0.30%)
SGD: 3.4787 (-0.05%)
EUR: 5.0708 (0.37%)
GBP: 5.9731 (0.10%)
JPY: 2.9202 (-0.41%)
CNY: 0.6485 (-0.09%)
HKD: 0.6034 (-0.12%)
​
WTI: 83.38 (2.26%)
Brent: 86.60 (1.88%)
GOLD: 2,331.90 (0.22%)
3rd MONTH FCPO: 3,979.00 (1.61%)
Msia 10 yr bond yield: 3.8790 (0.47%)
US 10 yr bond yield: 4.4613 (1.48%)
ICE LIBOR USD 3M: 5.5862 (-0.12%)
Bitcoin Futures: 64,310 (5.58%)
Source: Bloomberg

Source: /servlets/staticfile/547312.jsp/servlets/staticfile/547312.jspC/servlets/staticfile/547312.jspG/servlets/staticfile/547312.jspS/servlets/staticfile/547312.jsp-/servlets/staticfile/547312.jspC/servlets/staticfile/547312.jspI/servlets/staticfile/547312.jspM/servlets/staticfile/547312.jspB/servlets/staticfile/547312.jsp /servlets/staticfile/547312.jspR/servlets/staticfile/547312.jspe/servlets/staticfile/547312.jsps/servlets/staticfile/547312.jspe/servlets/staticfile/547312.jspa/servlets/staticfile/547312.jspr/servlets/staticfile/547312.jspc/servlets/staticfile/547312.jsph/servlets/staticfile/547312.jsp/servlets/staticfile/547312.jsp - 2 Jul 2024