Asian stock markets finished mixed on Tuesday with the local benchmark FBMKLCI (KLCI) being the best performing index in the region. The KLCI soared 13.33pts or 0.81% to end the day at 1,652.29. The biggest gains came from telecommunications (+1.56%), financial services (+1.25%) and energy (+1.22%). Technology (-1.65%), REIT (-0.60%) and transportation (-0.47%) were the top laggards. Trading volume increased to 3.19bn (up from 2.83bn previously) while trading value improved to RM3.20bn (up from RM2.62bn previously). Market breadth stayed negative for six days in a row as 476 gainers dragged by 640 decliners.

The benchmark closed at its 44-month high yesterday (on a close basis) with a white bullish candle. The pennant-like breakout suggests that the base-building phase is likely completed and more upside may follow next. Overhead resistance is seen at 1,660 and the larger uptrend is likely to resume if the said level is taken out. 1,680 is the next resistance. The 1,632-1,638 (May-July highs) acts as support for now. We will turn short-term bearish if the KLCI closed below the 1,614-1,624 support. NOTE: Our portfolio stays in risk-on mode this week.

Gainers: 476
Losers: 640
Unchanged: 452

DOW: 41,250.50 (0.02%)
S&P500: 5,625.80 (0.16%)
NASDAQ: 17,754.82 (0.16%)
FTSE100: 8,345.46 (0.21%)
DAX: 18,681.81 (0.35%)
HSI: 17,874.67 (0.43%)
STI: 3,398.47 (0.07%)
KLCI: 1,652.29 (0.81%)
​
USD: 4.3480 (-0.02%)
AUD: 2.9490 (0.12%)
SGD: 3.3349 (-0.10%)
EUR: 4.8559 (-0.07%)
GBP: 5.7548 (0.34%)
JPY: 3.0242 (0.38%)
CNY: 0.6104 (-0.04%)
HKD: 0.5573 (-0.07%)
​
WTI: 75.53 (-2.44%)
Brent: 79.55 (-2.31%)
GOLD: 2,524.64 (0.26%)
3rd MONTH FCPO: 3,923.00 (-0.03%)
Msia 10 yr bond yield: 3.7760 (0.27%)
US 10 yr bond yield: 3.8216 (0.15%)
ICE LIBOR USD 3M: 5.3423 (0.00%)
Bitcoin Futures: 59,400 (-6.81%)
Source: Bloomberg

Source: /servlets/staticfile/553610.jsp/servlets/staticfile/553610.jspC/servlets/staticfile/553610.jspG/servlets/staticfile/553610.jspS/servlets/staticfile/553610.jsp-/servlets/staticfile/553610.jspC/servlets/staticfile/553610.jspI/servlets/staticfile/553610.jspM/servlets/staticfile/553610.jspB/servlets/staticfile/553610.jsp /servlets/staticfile/553610.jspR/servlets/staticfile/553610.jspe/servlets/staticfile/553610.jsps/servlets/staticfile/553610.jspe/servlets/staticfile/553610.jspa/servlets/staticfile/553610.jspr/servlets/staticfile/553610.jspc/servlets/staticfile/553610.jsph/servlets/staticfile/553610.jsp/servlets/staticfile/553610.jsp - 28 Aug 2024