Dow Jones: 18,034.77 pts (-31.98pts, -0.18%)
U.S. equities ended lower as traders continue to stay cautious ahead of the FOMC meeting next week. Meanwhile, Apple Inc jumped 3.54% on the back of stronger-than-expected pre-orders of iPhone 7.
FBM KLCI: 1,661.39 pts (-15.79pts, -0.94%)
The FBM KLCI has retested the support level of 1,660 after a series of selling activities within the index heavyweights. The FBM KLCI may be due for a technical rebound towards the 1,680 level.
Crude Palm Oil: RM2,564 (-RM28, -1.08%)
Despite a weaker Ringgit, CPO dropped below the RM2,600 level. Selling interest may pick up over the near term and send the price towards next support of RM2,500.
WTI Crude Oil: $43.58 (-$1.32, -2.95%)
Crude oil had a short-lived rebound after stockpile data from EIA reported that the domestic crude supplies fell 600,000 barrels last week. However, selling interest picked up and the WTI crude oil ended below US$44.
Gold: $1,322.94 (+$3.89, +0.30%)
Gold rebounded near the US$1,310 level on the back of weaker US dollar. However, based on the MACD Indicator, gold is likely to trend sideways between the US$1,300-US$1,350 levels.
Economic Releases:
Eurozone - Eurostat Eurozone Core MUICP - 15Sep16, 5:00PM
US - US Initial Jobless Claims - 15Sep16, 8:30PM
US - US Industrial Production - 15Sep16, 9:15PM
Bursa Malaysia Trade Statistics - 14Sep16
Institutions: Net BUY 191.0 mln (63.8%)
Retail: Net BUY 39.5 mln (15.1%)
Foreign: Net SELL 230.5 mln (21.1%)
Potential Momentum Stocks - 15Sep16
Stock Name: 3A (0012)
Entry: Buy above RM1.37
Target: RM1.46 (6.6%), RM1.50 (9.5%)
Stop: RM1.32 (-3.6%)
Shariah: Yes
Technical: Flag formation breakout
Stock Name: LBALUM (9326)
Entry: Buy above RM0.625
Target: RM0.665 (6.4%), RM0.715 (14.4%)
Stop: RM0.60 (-4.0%)
Shariah: Yes
Technical: Potential short term breakout
Source: Bloomberg, M+ Online
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