Asian stock markets began the week on a positive note ahead of major central banks’ policy decisions. The local benchmark FBMKLCI (KLCI) rebounded 11.68pts or 0.72% to end the day at 1,624.56. Most sectors finished higher, lifted by property (+1.90%), technology (+1.11%) and construction (+0.76%). Top laggards were healthcare (-0.94%), transportation (-0.13%) and REIT (-0.11%). Trading volume increased to 4.23bn (up from 3.83bn on Friday) while trading value climbed to RM2.89bn (up from RM2.70bn previously). Market breadth turned positive as 626 gainers beat 455 decliners.

The KLCI gapped up and closed above the 20-day EMA yesterday with a white bullish candle. The rebound, coming off the 1,603-1,614 support levels signals that market is still resilient with the bulls may have kick started its upward momentum again. A bullish breakout of its week-long bullish flag pattern would increase the odds that the next wave up is underway. The longer-term trend remains up with 1,632-1,638 acting as the immediate resistance. NOTE: Our portfolio is in risk-on mode this week.

Gainers: 626
Losers: 455
Unchanged: 531

DOW: 40,539.93 (-0.12%)
S&P500: 5,463.54 (0.08%)
NASDAQ: 17,370.20 (0.07%)
FTSE100: 8,292.35 (0.08%)
DAX: 18,320.67 (-0.53%)
HSI: 17,238.34 (1.28%)
STI: 3,444.18 (0.52%)
KLCI: 1,624.56 (0.72%)
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USD: 4.6363 (-0.46%)
AUD: 3.0366 (0.58%)
SGD: 3.4513 (-0.43%)
EUR: 5.0243 (-0.62%)
GBP: 5.9504 (-0.73%)
JPY: 3.0097 (-0.58%)
CNY: 0.6386 (-0.57%)
HKD: 0.5936 (-0.52%)
​
WTI: 75.81 (-1.75%)
Brent: 79.78 (-1.66%)
GOLD: 2,384.19 (-0.13%)
3rd MONTH FCPO: 3,908.00 (-0.86%)
Msia 10 yr bond yield: 3.7590 (-0.50%)
US 10 yr bond yield: 4.1744 (-0.46%)
ICE LIBOR USD 3M: 5.5170 (-0.15%)
Bitcoin Futures: 67,985 (-1.15%)
Source: Bloomberg

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