Asian stock markets finished stronger yesterday with Japan’s Topix hitting record highs. The local benchmark FBMKLCI (KLCI) closed marginally higher, up 1.43pts or 0.09% to end the day at 1,616.75. Sector-wise, most sectors closed positively with healthcare (+1.96%) leading the way, followed by transport (+0.58%) and telecommunications (+0.36%). The local technology sector (-0.49%), which bucked the regional technology trend, was the largest laggard. Other notable laggards were plantation (-0.17%) and consumer products (-0.15%). Trading volume decreased to 4.93bn (down from 5.47bn on Wednesday) while trading value fell to RM3.79bn (down from RM3.99bn previously). Market breadth stayed positive for the fifth day running as 586 gainers marginally beat 558 losers.

The benchmark formed a shooting star pattern yesterday, potentially warning that a minor pullback may be next. As long as the KLCI stays above the flag resistance turned support (1,603), the bulls still have the upper hand for the medium-term. We continue to expect higher prices ahead for the benchmark, targeting 1,622 and 1,632 next. We would not rule out a move to a new 52-week high. Support is at 1,603 followed by 1,593 (50-day EMA). NOTE: Our portfolio is in risk-off mode this week.

Gainers: 586
Losers: 558
Unchanged: 495

DOW: 39,308.00 (CLOSED)
S&P500: 5,537.02 (CLOSED)
NASDAQ: 18,188.30 (CLOSED)
FTSE100: 8,241.26 (0.86%)
DAX: 18,450.48 (0.41%)
HSI: 18,028.28 (0.28%)
STI: 3,439.88 (0.71%)
KLCI: 1,616.75 (0.09%)
​
USD: 4.7090 (-0.22%)
AUD: 3.1657 (0.52%)
SGD: 3.4841 (0.14%)
EUR: 5.0848 (0.18%)
GBP: 6.0038 (0.20%)
JPY: 2.9211 (0.01%)
CNY: 0.6480 (-0.18%)
HKD: 0.6030 (-0.22%)
​
WTI: 84.04 (0.19%)
Brent: 87.43 (0.10%)
GOLD: 2,356.69 (0.02%)
3rd MONTH FCPO: 4,067.00 (-0.37%)
Msia 10 yr bond yield: 3.8570 (-0.23%)
US 10 yr bond yield: 4.3587 (0.00%)
ICE LIBOR USD 3M: 5.5759 (-0.07%)
Bitcoin Futures: 59,260 (-1.97%)
Source: Bloomberg

Source: /servlets/staticfile/547659.jsp/servlets/staticfile/547659.jspC/servlets/staticfile/547659.jspG/servlets/staticfile/547659.jspS/servlets/staticfile/547659.jsp-/servlets/staticfile/547659.jspC/servlets/staticfile/547659.jspI/servlets/staticfile/547659.jspM/servlets/staticfile/547659.jspB/servlets/staticfile/547659.jsp /servlets/staticfile/547659.jspR/servlets/staticfile/547659.jspe/servlets/staticfile/547659.jsps/servlets/staticfile/547659.jspe/servlets/staticfile/547659.jspa/servlets/staticfile/547659.jspr/servlets/staticfile/547659.jspc/servlets/staticfile/547659.jsph/servlets/staticfile/547659.jsp/servlets/staticfile/547659.jsp - 5 Jul 2024