Dow Jones: 17,694.68 pts (+284.96pts, +1.64%)
U.S. stockmarkets continue to post strong recovery for the second consecutive day on the back of bargain hunting activities. The Dow may retest the resistance of 18,000 over the near term.
FBM KLCI: 1,642.21 pts (+8.17pts, +0.50%)
The FBM KLCI surged above the EMA20 level as buying support was noted around the 1,630 level, it may retest the resistance of 1,660.
Crude Palm Oil: RM2,323 (-RM55, -2.31%)
CPO extended its correction phase below the RM2,400 level on the back of slower demand. Next support will be pegged around RM2,250-RM2,300.
WTI Crude Oil: $49.88 (+$2.03, +4.21%)
Crude oil rebounded from the two-day drop as crude stockpiles declined 4.05 mln barrels last week, according to the data provided by Energy Information Administration.
Gold: $1,319.15 (+$7.36, +0.56%)
Gold prices trended higher above the US$1,300 level as investors speculated that the central bank is likely to continue supporting the global economy post-Brexit.
Economic Releases:
Eurozone - Eurostat Eurozone Core MUICP - 30 Jun 16, 5:00PM
US - US Initial Jobless Claims - 30 Jun 16, 8:30PM
Bursa Malaysia Trade Statistics - 29 Jun 16
Institutions: Net SELL 2.4 mln (60.8%)
Retail: Net SELL 11.7 mln (17.0%)
Foreign: Net BUY 14.1 mln (22.2%)
Potential Momentum Stocks - 30 Jun 16
Stock Name: N2N (0108)
Entry: Buy above RM0.89
Target: RM0.97 (9.0%), RM1.00 (12.4%)
Stop: RM0.850 (-4.5%)
Technical: Breakout-Pullback-Continuation pattern
Stock Name: ANNJOO (6556)
Entry: Buy around RM1.11
Target: RM1.26 (13.5%), RM1.30 (17.1%)
Stop: RM1.03 (-7.2%)
Technical: Bullish 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.