Dow Jones: 17,733.10 pts (+92.93pts, +0.53%)
U.S. equities rebounded and rallied after hitting an intra-day low of 17,471.29 pts. Meanwhile, U.S. weekly jobless claims rose 13,000 to 277,000 vs. estimates of 270,000. 

FBM KLCI: 1,614.90 pts (-13.06pts, -0.80%)
Selling pressure intensified on the FBM KLCI after being pushed below the immediate support of 1,620. Next support will be set around 1,600.

Crude Palm Oil: RM2,415 (-RM45, -1.83%)
Palm oil prices stretched to its longest losing streak in ten years on the back of concerns over slower demand and lower prices of alternative oils like soy; soybean oil futures traded to the lowest point in a week amid speculation that the good weather may boost U.S. crops.

WTI Crude Oil: $46.21 (-$1.83, -3.81%)
Crude oil prices dropped to one-month low amid global economic concerns. Meanwhile, some of the producers like ConocoPhillips has restarted their production after being forced to shutdown during Canada wildfires.

Gold: $1,278.43 (-$13.92, -1.08%)
Gold reversed from an intra-day high of US$1,315.71 as traders speculated that the U.K. vote will be more likely to favour remaining in the European Union. 

Bursa Malaysia Trade Statistics - 16 Jun 16
Institutions:  Net BUY 232.1 mln (55.7%)
Retail:  Net BUY 40.9 mln (17.8%)
Foreign:  Net SELL 273.0 mln (26.5%)

Potential Momentum Stocks - 17 Jun 16 
Stock Name: FGV (5222)
Entry: Buy above RM1.53
Target: RM1.72 (12.4%), RM1.79 (17.0%)
Stop: RM1.44 (-5.9%)
Technical: Potential breakout

Stock Name: E&O (3417)
Entry: Buy above RM1.710
Target: RM1.83 (7.0%), RM2.00 (17.0%)
Stop: RM1.66 (-2.9%)
Technical: Potential flag 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.