Asian stock markets closed higher in muted trading on Monday as most indices closed for holiday. The local benchmark FBMKLCI (KLCI) rebounded 13.84pts or 0.84% to end last Friday at 1,652.15. Week-on-week, the index slipped 0.97pts or 0.06%. All sectors finished in positive territory last Friday led by property (+2.26%), technology (+1.80%) and energy (+1.79%). Trading volume increased to 2.84bn (up from 2.61bn previously) whereas trading value dropped to RM2.74bn (down from RM2.94bn previously). Market breadth stayed positive as 727 gainers outweighed 339 decliners.

Last Friday’s rebound shows that the benchmark may have temporarily found its support at the 1,632-1,638 (May-July highs) levels after touching its lowest point in two weeks. The index also closed above the 20-day EMA once again, testing the resistance line from the 1,684 high. Taking out the said resistance would negate its current lower lows and lower highs structure (small scale) which could bring further upside ahead. The overhead resistances are seen at 1,559-1,663 followed by the tough 1,680-1,686 levels. Conversely, closing below the 1,632-1,638 (May-July highs) levels would turn us bearish for the overall market in the short-term. NOTE: Our portfolio stays in risk-on mode this week.

Gainers: 727
Losers: 339
Unchanged: 459

DOW: 41,622.08 (0.55%)
S&P500: 5,633.09 (0.13%)
NASDAQ: 17,592.13 (-0.52%)
FTSE100: 8,278.44 (0.06%)
DAX: 18,633.11 (-0.35%)
HSI: 17,422.12 (0.31%)
STI: 3,565.21 (0.07%)
KLCI: 1,652.15 (CLOSED)
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USD: 4.3012 (0.00%)
AUD: 2.8984 (0.38%)
SGD: 3.3200 (0.21%)
EUR: 4.7738 (0.05%)
GBP: 5.6590 (0.16%)
JPY: 3.0736 (0.63%)
CNY: 0.6060 (-0.03%)
HKD: 0.5517 (0.02%)
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WTI: 70.09 (2.10%)
Brent: 72.75 (1.59%)
GOLD: 2,582.45 (0.18%)
3rd MONTH FCPO: 3,813.00 (0.00%)
Msia 10 yr bond yield: 3.7170 (0.00%)
US 10 yr bond yield: 3.6401 (-0.41%)
ICE LIBOR USD 3M: 5.2028 (0.00%)
Bitcoin Futures: 59,445 (-1.56%)
Source: Bloomberg

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