Most Asian stock markets rebounded on Friday led by India‘s BSE 30 (+1.62%). However, the local benchmark FBMKLCI (KLCI) continued to slide, falling 2.30pts or 0.14% to end the week at 1,612.88. Week-on-week, the index tumbled 23.67pts or 1.45%. It was a mixed bag last Friday with the largest gains coming from energy (+0.82%), transportation (+0.79%) and property (+0.54%). The underperforming sectors were technology (-0.36%), consumer products (-0.31%) and plantation (-0.09%). Trading volume dropped to 3.83bn (down from 4.55bn on Thursday) while trading value fell to RM2.70bn (down from RM3.11bn previously). Market breadth stayed negative three days in a row with 455 gainers lost out to 569 decliners.

The KLCI have pulled back and hovered between the 20-day and 50-day EMAs, keeping the consolidation in place. However, the pullback has now fallen into the support level of 1,603-1,614 (mentioned here last week) as well as the 50% Fibonacci Retracement level (1,610) from the 1,581 low to the 1,638 high. With the advance/decline ratio flattening out, a rebound may take place next. Just note that that the longer-term trend remains up and the longer-term momentum may kick in again. The next key support is the 50-day EMA (1,606). 1,632-1,638 is the immediate resistance. NOTE: Our portfolio is in risk-on mode this week.

Gainers: 455
Losers: 569
Unchanged: 556

DOW: 40,589.34 (1.64%)
S&P500: 5,459.10 (1.11%)
NASDAQ: 17,357.88 (1.03%)
FTSE100: 8,285.71 (1.21%)
DAX: 18,417.55 (0.65%)
HSI: 17,021.31 (0.10%)
STI: 3,426.47 (-0.12%)
KLCI: 1,612.88 (-0.14%)
​
USD: 4.6578 (-0.08%)
AUD: 3.0544 (0.42%)
SGD: 3.4662 (-0.18%)
EUR: 5.0555 (-0.05%)
GBP: 5.9939 (-0.21%)
JPY: 3.0272 (-0.05%)
CNY: 0.6423 (-0.14%)
HKD: 0.5967 (-0.07%)
​
WTI: 77.16 (-1.43%)
Brent: 81.13 (-1.51%)
GOLD: 2,387.19 (0.96%)
3rd MONTH FCPO: 3,942.00 (0.61%)
Msia 10 yr bond yield: 3.7780 (0.11%)
US 10 yr bond yield: 4.1939 (-1.10%)
ICE LIBOR USD 3M: 5.5252 (-0.28%)
Bitcoin Futures: 68,775 (3.44%)
Source: Bloomberg

Source: /servlets/staticfile/549777.jsp/servlets/staticfile/549777.jspC/servlets/staticfile/549777.jspG/servlets/staticfile/549777.jspS/servlets/staticfile/549777.jsp-/servlets/staticfile/549777.jspC/servlets/staticfile/549777.jspI/servlets/staticfile/549777.jspM/servlets/staticfile/549777.jspB/servlets/staticfile/549777.jsp /servlets/staticfile/549777.jspR/servlets/staticfile/549777.jspe/servlets/staticfile/549777.jsps/servlets/staticfile/549777.jspe/servlets/staticfile/549777.jspa/servlets/staticfile/549777.jspr/servlets/staticfile/549777.jspc/servlets/staticfile/549777.jsph/servlets/staticfile/549777.jsp/servlets/staticfile/549777.jsp - 29 Jul 2024