Dow Jones: 17,990.32 pts (+13.08pts, +0.07%)
U.S. equities traded mixed as traders were cautious ahead of the Fed's meeting that will be concluded on 27th of April. Meanwhile, the Nasdaq traded lower by 0.5% as Apple quarterly sales dropped for the first time in 13 years. 

FBM KLCI: 1,692.50 pts (-22.01pts, -1.28%)
The FBM KLCI dived severely after 1MDB news resurfaced in the media yesterday affecting the Ringgit Malaysia, which has weakened towards 3.929 level. The key index may continue its downward position to revisit the support near the 1,660 level.

Crude Palm Oil: RM2,675 (+RM20, +0.75%)
CPO ended higher for the first time in three days as Ringgit weakens. Meanwhile, Fitch sees brighter Asian palm sector outlook; Malaysia April 1-20 crude palm oil production seen +11.8% M.o.M, according to estimates from MPOB.

WTI Crude Oil: $44.04 (+$1.40, +3.32%)
WTI crude oil rebounded and pushed higher as World Bank boosted its forecast for oil prices this year, projecting that refinery demand will pick up and U.S. production cuts will steepen in the second half of 2016.

Gold: $1,243.40 (+$5.43, +0.44%)
Gold stayed sideways over the past three trading months within a pennant formation. If the price rallies above the $1,250 level, next target will be pegged around $1,300 level.

Economic Releases:
Eurozone - ECB M3 Annual Growth Rate - 27 Apr 16, 4:00PM
US - MBA US US Mortgage Market Index - 27 Apr 16, 7:00PM
US - US Pending Home Sales Index - 27 Apr 16, 7:00PM

Bursa Malaysia Trade Statistics - 26 Apr 16
Institutions:  Net BUY 150.9 mln (60.5%)
Retail:  Net BUY 69.0 mln (20.3%)
Foreign:  Net SELL 219.9 mln (19.2%)

Potential Momentum Stocks (27 Apr 16):
Stock Name: EFORCE (0065)
Entry: Buy around RM1.00
Target: RM1.08 (8.0%), RM1.15 (15.0%)
Stop: RM0.96 (-4.0%)
Technical: Rebounded off EMA9, volumes increased

Stock Name: PTB (0038)
Entry: Buy around RM0.180
Target: RM0.20 (11.1%), RM0.23 (27.8%)
Stop: RM0.170 (-5.6%)
Technical: Potential resistance breakout

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.