Most Asian stock markets finished higher on Thursday ahead of the US inflation data release. The local benchmark FBMKLCI (KLCI) advanced 4.74pts or 0.29% to end the day at 1,623.12. Notable gainers included construction (+2.66%), property (+2.05%) and telecommunications (+0.87%). The only laggards were energy (-0.06%) and plantation (-0.05%). Trading volume increased to 5.39bn (up from 4.76bn on Wednesday) while trading value grew to RM4.41bn (up from RM3.71bn previously). Market breadth stayed positive as 761 gainers outweighed 478 losers.

The benchmark gapped up and formed its second white candle yesterday. We believe that the bulls still have the upper hand over the next couple of weeks as long as the KLCI stays above the flag resistance turned support (1,603). Next target is seen at 1,632. We would not rule out a move to a new 52-week high in the weeks ahead. Support is at 1,603-1,614 followed by 1,593 (50-day EMA). NOTE: Our portfolio has reverted to risk-on mode this week.

Gainers: 761
Losers: 478
Unchanged: 471

DOW: 39,753.75 (0.08%)
S&P500: 5,584.54 (-0.88%)
NASDAQ: 18,283.41 (-1.95%)
FTSE100: 8,223.34 (0.36%)
DAX: 18,534.56 (0.69%)
HSI: 17,832.33 (2.06%)
STI: 3,475.06 (0.44%)
KLCI: 1,623.12 (0.29%)
​
USD: 4.6875 (-0.26%)
AUD: 3.1681 (0.02%)
SGD: 3.4789 (-0.12%)
EUR: 5.0846 (0.00%)
GBP: 6.0359 (0.27%)
JPY: 2.9454 (1.28%)
CNY: 0.6459 (-0.01%)
HKD: 0.6004 (-0.22%)
​
WTI: 82.62 (0.63%)
Brent: 85.40 (0.38%)
GOLD: 2,415.48 (1.86%)
3rd MONTH FCPO: 3,935.00 (0.43%)
Msia 10 yr bond yield: 3.8430 (-0.08%)
US 10 yr bond yield: 4.2101 (-1.73%)
ICE LIBOR USD 3M: 5.5657 (0.00%)
Bitcoin Futures: 58,185 (-0.08%)
Source: Bloomberg

Source: /servlets/staticfile/548279.jsp/servlets/staticfile/548279.jspC/servlets/staticfile/548279.jspG/servlets/staticfile/548279.jspS/servlets/staticfile/548279.jsp-/servlets/staticfile/548279.jspC/servlets/staticfile/548279.jspI/servlets/staticfile/548279.jspM/servlets/staticfile/548279.jspB/servlets/staticfile/548279.jsp /servlets/staticfile/548279.jspR/servlets/staticfile/548279.jspe/servlets/staticfile/548279.jsps/servlets/staticfile/548279.jspe/servlets/staticfile/548279.jspa/servlets/staticfile/548279.jspr/servlets/staticfile/548279.jspc/servlets/staticfile/548279.jsph/servlets/staticfile/548279.jsp/servlets/staticfile/548279.jsp - 12 Jul 2024