Most Asian stock markets finished lower on Tuesday with Hong Kong’s HSI (-1.37%) leading the decline. The local benchmark FBMKLCI (KLCI) shed 12.62pts or 0.78% to end the day at 1,611.94. All sectors finished in the red barring technology (+0.12%), which was the sole gainer. The most underperforming sectors were healthcare (-2.10%), utilities (-1.65%) and transportation (-0.85%). Trading volume eased to 4.19bn (down from 4.23bn on Monday) but trading value increased to RM3.11bn (up from RM2.89bn previously). Market breadth turned negative as 347 gainers were thumped by 814 decliners.

The KLCI erased Monday’s gains and formed a bearish engulfing pattern yesterday. More sideways chop may take place next with 1,603-1,614 remaining as the support levels. Any rebound that leads to 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 is still up with 1,632-1,638 acting as the immediate resistance. Any close below the dotted trend line (at 1,603) likely warns that a deeper and longer consolidation is taking place. NOTE: Our portfolio is in risk-on mode this week.

Gainers: 347
Losers: 814
Unchanged: 457

DOW: 40,743.33 (0.50%)
S&P500: 5,436.44 (-0.50%)
NASDAQ: 17,147.42 (-1.28%)
FTSE100: 8,274.41 (-0.22%)
DAX: 18,411.18 (0.49%)
HSI: 17,002.91 (-1.37%)
STI: 3,441.77 (-0.07%)
KLCI: 1,611.94 (-0.78%)
​
USD: 4.6217 (-0.31%)
AUD: 3.0254 (-0.37%)
SGD: 3.4387 (-0.37%)
EUR: 5.0061 (-0.36%)
GBP: 5.9447 (-0.10%)
JPY: 3.0269 (0.57%)
CNY: 0.6383 (-0.05%)
HKD: 0.5916 (-0.34%)
​
WTI: 74.73 (-1.42%)
Brent: 78.63 (-1.44%)
GOLD: 2,410.78 (1.12%)
3rd MONTH FCPO: 3,915.00 (0.18%)
Msia 10 yr bond yield: 3.7400 (-0.51%)
US 10 yr bond yield: 4.1394 (-0.84%)
ICE LIBOR USD 3M: 5.5137 (-0.06%)
Bitcoin Futures: 66,760 (-1.80%)
Source: Bloomberg

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