Most Asian stock markets finished the week higher led by India’s BSE 30 (+1.63%). The local benchmark FBMKLCI (KLCI) rose 3.17pts or 0.19% to end the day at 1,668.82. Week-on-week, the index grew 16.67pts or 1.01%. Last Friday, property (+1.68%), healthcare (+1.58%) and construction (+0.88%) were the top gainers whereas telecommunications (-0.92%), industrial products (-0.33%) and REIT (-0.30%) were the laggards. Trading volume climbed to 4.19bn (up from 3.99bn previously) while trading value advanced to RM5.97bn (up from RM4.08bn previously). Market breadth stayed positive as 732 gainers outweighed 468 decliners.

The benchmark gapped up last Friday, extending its gains from the bullish flag breakout levels. Follow-through buying may take the KLCI back up to retest the tough 1,680-1,686 levels. The next resistance is the 1,700 psychological level. Immediate support is seen at 1,649-1,651. The 1,632-1,638 (May-July highs) levels remains the key support as any break below would be short-term negative for the overall market. NOTE: Our portfolio stays in risk-on mode this week.

Gainers: 732
Losers: 468
Unchanged: 465

DOW: 42,063.36 (0.09%)
S&P500: 5,702.55 (-0.19%)
NASDAQ: 17,948.32 (-0.36%)
FTSE100: 8,229.99 (-1.19%)
DAX: 18,720.01 (-1.49%)
HSI: 18,258.57 (1.36%)
STI: 3,624.76 (-0.23%)
KLCI: 1,668.82 (0.19%)
​
USD: 4.2037 (-0.07%)
AUD: 2.8613 (-0.50%)
SGD: 3.2533 (-0.21%)
EUR: 4.6916 (-0.22%)
GBP: 5.5883 (0.02%)
JPY: 2.9211 (-1.00%)
CNY: 0.5959 (0.11%)
HKD: 0.5394 (-0.06%)
​
WTI: 71.00 (-0.22%)
Brent: 74.49 (-0.52%)
GOLD: 2,621.88 (1.36%)
3rd MONTH FCPO: 3,947.00 (1.83%)
Msia 10 yr bond yield: 3.7050 (0.22%)
US 10 yr bond yield: 3.7413 (0.76%)
ICE LIBOR USD 3M: 5.0149 (-1.19%)
Bitcoin Futures: 63,400 (-0.08%)
Source: Bloomberg

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