Asian stock markets finished mixed on Friday amid softer-than-expected US inflation data. The local benchmark FBMKLCI (KLCI) slid 4.06pts or 0.25% to end the day at 1,619.06. However, the index rose 8.04pts or 0.50% week-on-week. Most sectors ended in negative territory for the day dragged by technology (-0.95%), utilities (-0.83%) and telecommunications (-0.65%). Top gainers were transportation (+0.31%), construction (+0.12%) and financial services (+0.03%). Trading volume decreased to 4.58bn (down from 5.39bn on Thursday) while trading value fell to RM3.73bn (down from RM4.41bn previously). Market breadth turned negative as 532 gainers lost out to 639 losers.

The benchmark pared earlier gains and formed a black candle last Friday. 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: 532
Losers: 639
Unchanged: 513

DOW: 40,000.90 (0.62%)
S&P500: 5,615.35 (0.55%)
NASDAQ: 18,398.45 (0.63%)
FTSE100: 8,252.91 (0.36%)
DAX: 18,748.18 (1.15%)
HSI: 18,293.38 (2.59%)
STI: 3,497.78 (0.65%)
KLCI: 1,619.06 (-0.25%)
​
USD: 4.6715 (-0.34%)
AUD: 3.1650 (-0.10%)
SGD: 3.4781 (-0.02%)
EUR: 5.0852 (0.01%)
GBP: 6.0494 (0.22%)
JPY: 2.9581 (0.43%)
CNY: 0.6441 (-0.27%)
HKD: 0.5984 (-0.33%)
​
WTI: 82.21 (-0.50%)
Brent: 85.03 (-0.43%)
GOLD: 2,411.43 (-0.17%)
3rd MONTH FCPO: 3,915.00 (-0.51%)
Msia 10 yr bond yield: 3.8250 (-0.47%)
US 10 yr bond yield: 4.1829 (-0.65%)
ICE LIBOR USD 3M: 5.5477 (-0.32%)
Bitcoin Futures: 58,440 (0.44%)
Source: Bloomberg

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