Asian stock markets finished the month on a strong note. The local benchmark FBMKLCI (KLCI) led the charge last Friday, soaring 25.25pts or 1.53% to end the day at 1,678.80. The index surged 43.06pts or 2.63% week-on-week and 53.23pts or 3.27% month-on-month. All sectors rallied for the day led by property (+3.45%), utilities (+3.05%) and technology (+2.17%). Trading volume rose to 3.96bn (up from 3.68bn previously) while trading value advanced to RM6.22bn (up from RM3.97bn previously). Market breadth turned positive as 771 gainers beat 421 decliners.

The benchmark rebounded and closed at a new 44-month high last Friday (since 2020’s high of 1,695) with a white bullish candle. A cluster of resistances surrounding the 1,680-1,686 levels may cap near-term upside followed by the 1,700 psychological level. Any pullback is viewed as a constructive move as long the KLCI stays above the 1,632-1,638 (May-July highs) levels – which remains as support for now. NOTE: Our portfolio stays in risk-on mode this week.

Gainers: 771
Losers: 421
Unchanged: 437

DOW: 41,563.08 (0.55%)
S&P500: 5,648.40 (1.01%)
NASDAQ: 17,713.63 (1.13%)
FTSE100: 8,376.63 (-0.04%)
DAX: 18,906.92 (-0.03%)
HSI: 17,989.07 (1.14%)
STI: 3,442.93 (1.13%)
KLCI: 1,678.80 (1.53%)
​
USD: 4.3205 (0.22%)
AUD: 2.9406 (-0.01%)
SGD: 3.3173 (0.08%)
EUR: 4.7882 (0.11%)
GBP: 5.6964 (0.15%)
JPY: 2.9555 (-0.60%)
CNY: 0.6093 (0.31%)
HKD: 0.5540 (0.22%)
​
WTI: 73.55 (-3.11%)
Brent: 76.93 (-2.40%)
GOLD: 2,503.39 (-0.71%)
3rd MONTH FCPO: 3,977.00 (0.94%)
Msia 10 yr bond yield: 3.7630 (0.24%)
US 10 yr bond yield: 3.9034 (1.09%)
ICE LIBOR USD 3M: 5.2782 (-0.76%)
Bitcoin Futures: 59,470 (-0.29%)
Source: Bloomberg

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