Dow Jones: 17,711.12 pts (-217.23pts, -1.21%)
U.S. equities retreated sharply after climbing above the EMA20 level two days back as consumer related stocks were hit the most amid the disappointing results from Macy's, Fossil and Walt Disney, coupled with the decision to end the Staples, Office Depot merger.  

FBM KLCI: 1,644.58 pts (+8.74pts, +0.53%)
The FBM KLCI rebounded for the second consecutive day above the 1,630 support level. However, as the selling pressure emerged on the U.S. markets, share prices on the local front could see the resumption of selling activities. Upside may be capped around the 1,660 level.

Crude Palm Oil: RM2,678 (+RM17, +0.64%)
Crude palm oil prices trended positively in tandem with the soybean market, plus the potential stronger demand during Ramadan festive season. 

WTI Crude Oil: $46.23 (+$1.57, +3.49%)
WTI crude oil traded above the US$46 level after a government report showed an unexpected drop in U.S. crude inventories amid supply disruptions in Nigeria. Crude output fell to 8.8 mln barrels a day last week.

Gold: $1,277.21 (+$11.37, +0.90%)
Gold price rebounded above the $1,256 level and could be forming a breakout-pullback-continuation pattern, it may trade towards the immediate resistance of $1,300.

Economic Releases:
Japan - Japan Balance of Payments Trade Balance - 12May16, 7:50AM
Japan - Japan Weekly Securities Investment Abroad Medium & Long Term Bonds Net - 12May16, 7:50AM
Malaysia - Malaysia Industrial Production - 12May16, 12:00PM
Eurozone - Eurostat Industrial Production Eurozone Industry Ex Construction - 12May16, 5:00PM
US - US Initial jobless Claims - 12May16, 8:30PM

Bursa Malaysia Trade Statistics - 11May16
Institutions:  Net BUY 98.4 mln (56.4%)
Retail:  Net SELL 14.8 mln (17.3%)
Foreign:  Net SELL 83.6 mln (26.3%)

Potential Momentum Stocks - 12May16
Stock Name: IKHMAS (5268)
Entry: Buy around RM0.75
Target: RM0.84 (11.3%), RM0.87 (15.3%)
Stop: RM0.73 (-2.7%)
Technical: Short term breakout

Stock Name: LCTH (5092)
Entry: Buy above RM0.675
Target: RM0.730 (8.1%), RM0.760 (12.6%)
Stop: RM0.655 (-3.0%)
Technical: Flag formation breakout

Source: Bloomberg, M+ Online

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