Asian stock markets finished mixed on Thursday after dovish Fed overnight. The local benchmark FBMKLCI (KLCI) inched down 1.32pts or 0.08% to end the day at 1,624.25. A few gainers across the sectors included energy (+0.60%), financial services (+0.59%) and REIT (+0.24%). The underperforming sectors were construction (-0.56%), industrial products (-0.52%) and property (-0.48%). Trading volume fell to 3.51bn (down from 4.42bn on Wednesday) while trading value dropped to RM2.71bn (down from RM3.62bn previously). Market breadth stayed negative for three days in a row as 442 gainers weighed by 654 decliners.

The KLCI stayed above the 20-day EMA yesterday albeit a slight pullback. The bulls may see resumed strength if the flag breakout is completed, where a close above 1,629 would likely confirm it. Otherwise, expect more sideways chop to take place next with 1,603-1,614 remaining as the support levels. 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 1,604) likely warns that a deeper and longer consolidation is taking place. NOTE: Our portfolio is in risk-on mode this week.

Gainers: 442
Losers: 654
Unchanged: 483

DOW: 40,347.97 (-1.21%)
S&P500: 5,446.68 (-1.37%)
NASDAQ: 17,194.14 (-2.30%)
FTSE100: 8,283.36 (-1.01%)
DAX: 18,083.05 (-2.30%)
HSI: 17,304.96 (-0.23%)
STI: 3,419.84 (-1.04%)
KLCI: 1,624.25 (-0.08%)
​
USD: 4.5693 (-0.46%)
AUD: 2.9812 (-0.05%)
SGD: 3.4141 (-0.44%)
EUR: 4.9250 (-0.90%)
GBP: 5.8283 (-1.06%)
JPY: 3.0588 (-0.06%)
CNY: 0.6307 (-0.70%)
HKD: 0.5847 (-0.49%)
​
WTI: 76.31 (-2.05%)
Brent: 79.52 (-1.63%)
GOLD: 2,446.26 (-0.05%)
3rd MONTH FCPO: 3,870.00 (-0.97%)
Msia 10 yr bond yield: 3.6950 (-0.57%)
US 10 yr bond yield: 3.9760 (-1.33%)
ICE LIBOR USD 3M: 5.5027 (-0.12%)
Bitcoin Futures: 66,450 (0.83%)
Source: Bloomberg

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