Asian stock markets finished the week higher with Japan’s Nikkei 225 (+3.64%) leading the charge. The local benchmark FBMKLCI (KLCI) jumped 10.96pts or 0.68% to end the day at 1,623.90. Week-on-week, the index surged 27.85pts or 1.74%. Most sectors rallied for the day except for telecommunications (-0.05%). The best performing sectors were energy (+2.54%), healthcare (+1.78%) and industrial products (+1.76%). Trading volume dropped to 3.23bn (down from 3.57bn previously) while trading value eased to RM2.76bn (down from RM2.77bn previously). Market breadth turned positive as 802 gainers beat 324 decliners.

The benchmark gapped up and surpassed the dotted line (1,611-1,614) from the 1,477 low last Friday. We had previously mentioned that a close above the said line would likely move the market’s gears back to neutral. The next overhead resistance is seen at 1,628 followed by 1,638 next. The market is in consolidation mode with slight upward bias. Support is at 1,593-1,598 followed by 1,574-1,579 next. NOTE: Our portfolio is reverted to risk-on mode this week.

Gainers: 802
Losers: 324
Unchanged: 453

DOW: 40,659.76 (0.24%)
S&P500: 5,554.25 (0.20%)
NASDAQ: 17,631.72 (0.21%)
FTSE100: 8,311.41 (-0.43%)
DAX: 18,322.40 (0.77%)
HSI: 17,430.16 (1.88%)
STI: 3,352.89 (1.12%)
KLCI: 1,623.90 (0.68%)
​
USD: 4.4323 (-0.12%)
AUD: 2.9415 (0.05%)
SGD: 3.3605 (-0.22%)
EUR: 4.8711 (-0.32%)
GBP: 5.7201 (0.28%)
JPY: 3.0027 (0.93%)
CNY: 0.6187 (0.04%)
HKD: 0.5685 (-0.12%)
​
WTI: 76.65 (-1.93%)
Brent: 79.68 (-1.68%)
GOLD: 2,508.01 (2.08%)
3rd MONTH FCPO: 3,681.00 (-0.41%)
Msia 10 yr bond yield: 3.7830 (0.40%)
US 10 yr bond yield: 3.8826 (-0.78%)
ICE LIBOR USD 3M: 5.3632 (0.11%)
Bitcoin Futures: 60,490 (3.93%)
Source: Bloomberg

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