Asian stock markets was mixed on the continued weakness in China’s economy. The local benchmark FBMKLCI (KLCI) closed flat yesterday, easing a paltry 0.61pts or 0.04% to end the day at 1,678.19. Construction (+1.51%), utilities (+1.41%) and technologies (+1.39%) were the leaders yesterday. On the flipside, losses were seen on transportation (-0.84%), energy (-0.80%) and telecommunications (-0.64%). Trading volume fell to 3.25bn (down from 3.96bn previously) while trading value tumbled to RM3.02bn (down from RM6.22bn previously). Market breadth stayed positive as 679 gainers beat 467 decliners.

It was a small-ranged day yesterday as volatility eased from the previous 3 trading days. The benchmark stayed close to its 44-month high, keeping the short-term upward momentum intact. The bulls may try to push through the overhead cluster of resistances surrounding the 1,680-1,686 levels next. The 1,700 psychological level may also act as a magnet to draw prices higher in the near-term. The 1,632-1,638 (May-July highs) levels remains as support for now. NOTE: Our portfolio stays in risk-on mode this week.

Gainers: 679
Losers: 467
Unchanged: 464

DOW: 41,563.08 (CLOSED)
S&P500: 5,648.40 (CLOSED)
NASDAQ: 17,713.63 (CLOSED)
FTSE100: 8,363.84 (-0.15%)
DAX: 18,930.85 (0.13%)
HSI: 17,691.97 (-1.65%)
STI: 3,463.08 (0.59%)
KLCI: 1,678.19 (-0.04%)
​
USD: 4.3575 (0.86%)
AUD: 2.9557 (0.51%)
SGD: 3.3344 (0.52%)
EUR: 4.8233 (0.73%)
GBP: 5.7242 (0.49%)
JPY: 2.9667 (0.38%)
CNY: 0.6122 (0.48%)
HKD: 0.5590 (0.90%)
​
WTI: 73.70 (0.20%)
Brent: 77.52 (0.77%)
GOLD: 2,499.51 (-0.15%)
3rd MONTH FCPO: 3,933.00 (-1.11%)
Msia 10 yr bond yield: 3.7720 (0.24%)
US 10 yr bond yield: 3.9034 (0.00%)
ICE LIBOR USD 3M: 5.2782 (0.00%)
Bitcoin Futures: 59,820 (0.59%)
Source: Bloomberg

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