Asian stock markets finished in the positive territory on Wednesday amid dovish signals by Bank of Japan. The local benchmark FBMKLCI (KLCI) extended its rally by 17.48pts or 1.11% to end the day at 1,591.87. Plantation (-0.37%) was the only laggard. The broader market was lifted by energy (+3.14%), utilities (+3.13%) and construction (+3.00%) who were the top gainers. Trading volume decreased to 5.12bn (down from 6.40bn on Tuesday) while trading value declined further to RM4.02bn (down from RM5.32bn previously). Market breadth stayed positive as 1,061 gainers outweighed 270 decliners.

The KLCI formed its second white candle yesterday, looking to fill Monday’s gap of 1,593-1,607. We expect choppy sessions ahead amid the filling process. Longer-term, the market has likely gone into consolidation mode that may last a while. 1,600 acts as the overhead resistance followed by 1,628 next. Conversely, support is seen at 1,532 followed by 1,508-1,521 next. NOTE: Our portfolio has reverted to risk-off mode this week.

Gainers: 1061
Losers: 270
Unchanged: 376

DOW: 38,763.45 (-0.60%)
S&P500: 5,199.50 (-0.77%)
NASDAQ: 16,195.81 (-1.05%)
FTSE100: 8,166.88 (1.75%)
DAX: 17,615.15 (1.50%)
HSI: 16,877.86 (1.38%)
STI: 3,249.72 (1.60%)
KLCI: 1,591.87 (1.11%)
​
USD: 4.4980 (0.52%)
AUD: 2.9545 (1.87%)
SGD: 3.3867 (0.45%)
EUR: 4.9089 (0.53%)
GBP: 5.7163 (0.50%)
JPY: 3.0694 (-0.80%)
CNY: 0.6268 (0.23%)
HKD: 0.5769 (0.49%)
​
WTI: 75.23 (2.77%)
Brent: 78.33 (2.42%)
GOLD: 2,382.92 (-0.33%)
3rd MONTH FCPO: 3,697.00 (-0.22%)
Msia 10 yr bond yield: 3.7750 (0.59%)
US 10 yr bond yield: 3.9431 (1.32%)
ICE LIBOR USD 3M: 5.3181 (-1.41%)
Bitcoin Futures: 55,725 (-3.13%)
Source: Bloomberg

Source: /servlets/staticfile/551209.jsp/servlets/staticfile/551209.jspC/servlets/staticfile/551209.jspG/servlets/staticfile/551209.jspS/servlets/staticfile/551209.jsp-/servlets/staticfile/551209.jspC/servlets/staticfile/551209.jspI/servlets/staticfile/551209.jspM/servlets/staticfile/551209.jspB/servlets/staticfile/551209.jsp /servlets/staticfile/551209.jspR/servlets/staticfile/551209.jspe/servlets/staticfile/551209.jsps/servlets/staticfile/551209.jspe/servlets/staticfile/551209.jspa/servlets/staticfile/551209.jspr/servlets/staticfile/551209.jspc/servlets/staticfile/551209.jsph/servlets/staticfile/551209.jsp/servlets/staticfile/551209.jsp - 8 Aug 2024