Asian stock markets ended mixed on Monday with Chinese stocks taking a hit after disappointing China economic growth. The local benchmark FBMKLCI (KLCI) however, was a spark of life, climbing 10.76pts or 0.66% to end the day at 1,629.82, the highest close in 3-years. Most sectors ended positively except for energy (-1.37%), transportation (-0.55%) and utilities (-0.08%). Notable gainers were construction (+2.23%), property (+1.30%) and technology (+1.21%). Trading volume increased to 5.36bn (up from 4.58bn on Friday) while trading value rose to RM3.95bn (up from RM3.73bn previously). Market breadth turned positive again as 738 gainers beat 491 decliners.

The benchmark continued to push higher following the breakout of its bullish flag pattern in a couple of weeks ago. The strong close yesterday sent the index to a new 3-year high (on close basis), likely implying more upside lie ahead. The KLCI may draw closer to the 1,650 psychological level, which is close to the next Fibonacci target of 1,652. The following target is at 1,664. Support remains at 1,603-1,614 followed by 1,598 (the rising 50-day EMA). NOTE: Our portfolio has reverted to risk-on mode this week.

Gainers: 738
Losers: 491
Unchanged: 480

DOW: 40,211.72 (0.53%)
S&P500: 5,631.22 (0.28%)
NASDAQ: 18,472.57 (0.40%)
FTSE100: 8,182.96 (-0.85%)
DAX: 18,590.89 (-0.84%)
HSI: 18,015.94 (-1.52%)
STI: 3,499.89 (0.06%)
KLCI: 1,629.82 (0.66%)
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USD: 4.6735 (0.04%)
AUD: 3.1687 (0.12%)
SGD: 3.4819 (0.11%)
EUR: 5.1002 (0.29%)
GBP: 6.0674 (0.30%)
JPY: 2.9588 (0.02%)
CNY: 0.6438 (-0.05%)
HKD: 0.5987 (0.05%)
​
WTI: 81.91 (-0.36%)
Brent: 84.85 (-0.21%)
GOLD: 2,422.27 (0.45%)
3rd MONTH FCPO: 3,895.00 (-0.51%)
Msia 10 yr bond yield: 3.8250 (0.00%)
US 10 yr bond yield: 4.2294 (1.11%)
ICE LIBOR USD 3M: 5.5477 (0.00%)
Bitcoin Futures: 65,435 (11.97%)
Source: Bloomberg

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