Dow Jones: 17,716.05 pts (+112.73 pts, +0.64%).
U.S. stockmarkets closed higher led by healthcare shares, coupled with the buying support on the energy shares amid the strong recovery in WTI crude oil prices.
FBM KLCI: 1,717.07 pts (-1.07 pts, -0.06%%).
Tracking the gains on the overnight Dow, the FBM KLCI may trend mildly positive. Trading range of the FBM KLCI will be pegged around the 1,700-1,730 levels over the near term. Malaysia’s Feb Exports rose 6.7% Y.oY, estimates stood at 2.9% Y.o.Y.
Crude Palm Oil: RM2,724 (-RM32, -1.16%).
Palm oil stockpiles in Malaysia, the world’s second-largest producer, probably slumped by the most in two years as shipments to India and China soared. Malaysia March palm oil stockpiles slid 13% M.o.M to 1.89 million metric tons, biggest decline since Feb 2014. MPOB will release official data by 11th of April 2016.
WTI Crude oil: US$37.73 (+US$1.17, +3.20%).
Crude oil prices continues to stay positive for the second consecutive day on an unexpected drop in U.S. crude inventories from the highest level in more than eight decades. Crude supplies fell by 4.9 mln barrels last week.
Gold: US$1222.47 (-US$8.88, -0.72%).
Gold pulled back as stocks surged strongly on a positive recovery of the crude oil prices. Meanwhile, the support is located around the US$1,200 level.
Economic Releases:
Malaysia Assets & Liabilities – 7Apr16, 6:00PM
U.S. Initial Jobless Claims – 7Apr16, 8:30PM
Potential Momentum Stocks (07-Apr-2016):
Stock Name: EFORCE (0065)
Entry: RM0.97
Target: RM1.02 (5.2%), RM1.10 (11.3%)
Stop: RM0.935 (-3.6%)
Technical: Consolidation breakout
Stock Name: MIKROMB (0112)
Entry: RM0.545
Target: RM0.58 (6.4%), RM0.645 (18.3%)
Stop: RM0.525 (-3.7%)
Technical: Continuation of the triangle formation
Source: Bloomberg, M+ Online
Disclaimer
The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.
The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.
Chart | Stock Name | Last | Change | Volume |
---|