Asian stock markets reacted mixed on Wednesday amid political turmoil in South Korea following the imposition of martial law by the country. The local benchmark FBMKLCI (KLCI) climbed 7.13pts or 0.44% to end the day at 1,614.09. Construction (-0.01%) was the only laggard for the day. The best performing sectors included technology (+2.63%), healthcare (+2.15%) and energy (+1.99%). Trading volume increased to 3.60bn (up from 3.32bn previously) but trading value dropped slightly to RM3.30bn (down from RM3.31bn previously). Market breadth stayed positive as 727 gainers outweighed 381 decliners.

The benchmark extended its gain with a second white candle yesterday. The index appears to retest the flattening 50-day EMA but still lack of strength. 1,614-1,624 remains as the next support-turned-resistance level. As long the index supported above the 200-day EMA and the recent double bottom low at 1,587-1,589, the odds are still in favour of the bulls. Otherwise, any close below these lows would likely signal further weakness is possible thereafter as the downtrend from the 1,675-1,684 highs is extending. The next support is seen at 1,574-1,581 (which includes the Jun24 low) followed by 1,565. NOTE: Our portfolio stayed in *risk-off mode* this week.

Gainers: 727
Losers: 381
Unchanged: 522

DOW: 44,014.04 (0.69%)
S&P500: 6,086.49 (0.61%)
NASDAQ: 19,735.12 (1.30%)
FTSE100: 8,335.81 (-0.28%)
DAX: 20,232.14 (1.08%)
HSI: 19,742.46 (-0.02%)
STI: 3,799.94 (0.36%)
KLCI: 1,614.09 (0.44%)
​
USD: 4.4528 (-0.38%)
AUD: 2.8584 (-1.55%)
SGD: 3.3077 (-0.49%)
EUR: 4.6765 (-0.56%)
GBP: 5.6449 (-0.38%)
JPY: 2.9580 (-0.99%)
CNY: 0.6129 (-0.09%)
HKD: 0.5720 (-0.40%)
​
WTI: 68.54 (-2.00%)
Brent: 72.50 (-1.61%)
GOLD: 2,649.90 (0.24%)
3rd MONTH FCPO: 5,032.00 (-0.85%)
Msia 10 yr bond yield: 3.8150 (0.26%)
US 10 yr bond yield: 4.1800 (-1.05%)
Bitcoin Futures: 101,220 (3.45%)
Source: Bloomberg

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