Asian stock markets ended mixed with gains in Hong Kong and Japan countered losses in South Korea. The local benchmark FBMKLCI (KLCI) was marginally lower, losing 0.24pts or 0.02% to end the day at 1,597.96. The broader market was positive as gains were seen in construction (+2.96%), technology (+1.06%) and energy (+0.98%). Laggards for the day were telecommunications (-0.84%), transportation (-0.38%), plantation (-0.36%) and consumer products (-0.01%). Trading volume rose to 5.39bn (up from 3.66bn on Monday) while trading value climbed to RM3.99bn (up from RM2.77bn previously). Market breadth stayed positive for the third in a row as 715 gainers beat 459 losers.

The benchmark formed a doji-like candle yesterday after testing the 1,600 psychological level. The odds are slightly in favour of the bulls given that the previous trend prior to the 1.5-month consolidation was up and the benchmark is above the 50-day EMA. Aggressive traders ought to continue to look for buy setups. A breakout above the downtrend line (1,605) from 1,632 would confirm that the longer-term uptrend has resumed. Keep a stop below 1,581 as a break below 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: 715
Losers: 459
Unchanged: 469

DOW: 39,331.85 (0.41%)
S&P500: 5,509.01 (0.62%)
NASDAQ: 18,028.76 (0.84%)
FTSE100: 8,121.20 (-0.56%)
DAX: 18,164.06 (-0.69%)
HSI: 17,769.14 (0.29%)
STI: 3,367.90 (0.88%)
KLCI: 1,597.96 (-0.02%)
​
USD: 4.7212 (0.16%)
AUD: 3.1398 (-0.28%)
SGD: 3.4747 (-0.11%)
EUR: 5.0570 (-0.27%)
GBP: 5.9646 (-0.14%)
JPY: 2.9250 (0.16%)
CNY: 0.6493 (0.12%)
HKD: 0.6042 (0.13%)
​
WTI: 82.81 (-0.68%)
Brent: 86.24 (-0.42%)
GOLD: 2,329.46 (-0.10%)
3rd MONTH FCPO: 4,089.00 (2.76%)
Msia 10 yr bond yield: 3.8720 (-0.18%)
US 10 yr bond yield: 4.4316 (-0.67%)
ICE LIBOR USD 3M: 5.5825 (-0.07%)
Bitcoin Futures: 62,800 (-2.35%)
Source: Bloomberg

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