BursaMalaysiarecap

KLCI ended flat with a 0.7-pt decline

• In the wake of persistent concerns over slowing global economicgrowth and ongoing financial routs, most of the Asian marketsended lower after surrendering early gains, weighed down byenergy shares amid falling oil prices as investors awai ted theoutcome from another crucial meeting between two keyproducers Iraq and Iran in Tehran and disappointed with apledge earlier by the world’s two larges t oil producers , Russiaand Saudi Arabia to freeze output (but not cut production).
• Tracking regional markets, KLCI fell 0.7-pt after jumping 21.3 ptsin the last two days, led by lower crude oil prices and a sharp1.65% fall in Ringgit (vs US$).

Wall St recap

Dow surged 257 pts to log 794 pts in three consecutivesessions

• The Dow rallied 257 pts or 1.6%, extending its gains for a 3rdstraight session, helped by strong industrial production forJanuary and 5.4% rally in WTI price at US$$30.6/barrel aftercomments from the Iran oil minister raised hopes for thepossibility of cooperation on an agreement to freeze production.Sentiment was also boosted by expectations that the Fed isgoing to be more supportive and cognizant of emerging marketslowdown, following the Jan FOMC meeting minutes showedpolicymakers worried that tighter global financial conditionscould hit the U.S. economy and considered changing theirplanned path of interest rate hikes in 2016.

Source: Hong Leong Investment Bank Research - 18 Feb 2016