Most Asian stock markets closed lower on Friday ahead of US jobs data release. The local benchmark FBMKLCI (KLCI) dipped 2.39pts or 0.15% to end the day at 1,613.25. Week-on-week, the index surged 18.96pts or 1.19%. Top gainers for the day included healthcare (+2.19%), energy (+1.04%) and construction (+0.69%). The worst performing sectors were plantation (-0.49%), REIT (-0.27%) and telecommunications (-0.24%). Trading volume eased further to 3.18bn (down from 3.24bn previously) but trading value increased to RM2.82bn (up from RM2.74bn previously). Market breadth was positive as 574 gainers outperformed 465 decliners.

Minor profit-taking took place last Friday after the continuous rally from 1,586 low. The benchmark appears to find the 1,614-1,624 support-turned-resistance level a tough nut to crack (including the 50-day EMA). However, 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 turns into *risk-on mode* this week.

Gainers: 574
Losers: 465
Unchanged: 524

DOW: 44,642.52 (-0.28%)
S&P500: 6,090.27 (0.25%)
NASDAQ: 19,859.77 (0.81%)
FTSE100: 8,308.61 (-0.49%)
DAX: 20,384.61 (0.13%)
HSI: 19,865.85 (1.56%)
STI: 3,796.16 (-0.69%)
KLCI: 1,613.25 (-0.15%)
​
USD: 4.4195 (-0.19%)
AUD: 2.8391 (-0.40%)
SGD: 3.2969 (-0.11%)
EUR: 4.6747 (0.28%)
GBP: 5.6369 (0.08%)
JPY: 2.9457 (-0.15%)
CNY: 0.6087 (-0.19%)
HKD: 0.5681 (-0.14%)
​
WTI: 67.20 (-1.61%)
Brent: 71.12 (-1.35%)
GOLD: 2,633.37 (0.06%)
3rd MONTH FCPO: 5,128.00 (-0.14%)
Msia 10 yr bond yield: 3.7870 (0.16%)
US 10 yr bond yield: 4.1529 (-0.56%)
Bitcoin Futures: 103,770 (2.66%)
Source: Bloomberg

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