Dow Jones: 17,710.71 pts (+175.39pts, +1.00%)
U.S. stockmarkets gained momentum and rallied as energy shares were focused amid the recovery of oil prices, coupled with the jump in Apple after Berkshire Hathaway declared a stake.

FBM KLCI: 1,621.21 pts (-7.05pts, -0.43%)
Taking the positive cues from the overseas markets and the oversold condition in the Malaysia's stockmarket, the FBM KLCI may rebound towards the 1,660 level over the near term.

Crude Palm Oil: RM2,587 (+RM27, +1.05%)
Again, the CPO prices ended higher, snapping a two-day drop with an anticipation that the exports may pick up this month ahead of the festive season.

WTI Crude Oil: $47.72 (+$1.51, +3.28%)
Oil climbed to a six-month high as supply disruptions in Canada, Nigeria and Libya have cut daily global output by millions of barrels. Goldman Sachs commented that the oil market supply situation probably will go into a deficit this month from a supply glut.

Gold: $1,274.16 (+$0.21, +0.02%)
After hitting the intra-day high around the US$1,289 level, price ended flat for the day. Support will be pegged around US$1,260, while the resistance will be set around US$1,300.

Economic Releases:
Eurozone - Eurozone Trade Balance with Non Eurozone Countries - 17 May 16, 5:00PM
US - US Industrial Production Industry - 17 May 16, 9:15PM

Bursa Malaysia Trade Statistics - 16 May 16
Institutions:  Net BUY 283.0 mln (55.5%)
Retail:  Net BUY 24.3 mln (17.4%)
Foreign:  Net SELL 307.3 mln (27.1%)

Potential Momentum Stocks - 17 May 16
Stock Name: BIOHLDG (0179)
Entry: Buy above RM0.38
Target: RM0.43 (13.3%), RM0.45 (20.0%)
Stop: RM0.36 (-4.0%)
Technical: Potential breakout

Stock Name: OPENSYS (0040)
Entry: Buy above RM0.300
Target: RM0.325 (8.3%), RM0.365 (21.7%)
Stop: RM0.285 (-5.0%)
Technical: Potential resistance breakout

Source: Bloomberg, M+ Online

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