Most Asian stock markets finished higher on Thursday amid further policy support from China. The local benchmark FBMKLCI (KLCI) slid 2.06pts or 0.12% to end the day at 1,671.32. The broader market was dragged by energy (-1.68%), utilities (-1.18%) and plantation (-0.94%). Conversely, healthcare (+1.06%), consumer products (+0.39%) and financial services (+0.16%) were the top gainers. Trading volume decreased to 3.13bn (down from 3.59bn previously) while trading value improved to RM2.84bn (down from RM3.29bn previously). Market breadth stay negative as 525 gainers lost out to 582 decliners.

The benchmark pared gains yesterday with little fluctuations. The current sideways trend is expected to continue as buyers may have to take a breather for a short while before the next run up. On the upside, the KLCI may climb up to retest the tough 1,680-1,686 levels next. The following 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: 525
Losers: 582
Unchanged: 493

DOW: 42,175.11 (0.62%)
S&P500: 5,745.37 (0.40%)
NASDAQ: 18,190.29 (0.60%)
FTSE100: 8,284.91 (0.20%)
DAX: 19,238.36 (1.69%)
HSI: 19,924.58 (4.16%)
STI: 3,582.23 (-0.03%)
KLCI: 1,671.32 (-0.12%)
​
USD: 4.1458 (0.40%)
AUD: 2.8471 (0.28%)
SGD: 3.2224 (0.27%)
EUR: 4.6198 (0.03%)
GBP: 5.5373 (0.29%)
JPY: 2.8607 (0.21%)
CNY: 0.5913 (0.70%)
HKD: 0.5329 (0.47%)
​
WTI: 67.67 (-2.90%)
Brent: 71.60 (-2.53%)
GOLD: 2,672.38 (0.58%)
3rd MONTH FCPO: 4,152.00 (2.70%)
Msia 10 yr bond yield: 3.7230 (0.00%)
US 10 yr bond yield: 3.7963 (0.30%)
ICE LIBOR USD 3M: 4.9048 (-0.32%)
Bitcoin Futures: 65,690 (2.95%)
Source: Bloomberg

*27th Sep 2024*

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