Dow Jones: 19,974.62 pts (+91.56pts, +0.46%)
U.S. stockmarkets extended their gains as the Dow added 0.5% to close marginally below the 20,000 psychological level, on prospects over increased government spending in the country.
FBM KLCI: 1,634.52 pts (+0.22pts, +0.01%)
The FBM KLCI was traded in a choppy manner yesterday but last minute buying support amongst selective oil & gas and telco heavyweights sent the key index marginally higher. The immediate support level is located around the 1,630 level.
Crude Palm Oil: RM3,093 (-RM49, -1.56%)
Tracking the weakness in soybean oil prices, crude palm oil prices extended its losses for the third straight session. The RM3,200 level will serve as the immediate resistance level.
WTI Crude Oil: $53.30 (+$1.18, +2.27%)
Crude oil prices advanced for the third consecutive session after U.S. crude stockpiles declined last week. Crude oil prices might trend towards the US$55-US$60 levels.
Gold: $1,132.35 (-$5.86, -0.51%)
Gold prices erased all its previous session gains, dragged down by the strength in U.S. Dollar. The US1,100 will serve as the immediate support level.
Economic Releases:
EU - Eurozone's Consumer Confidence - 21 Dec 16, 11.00PM
US - US Existing Home Sales - 21 Dec 16, 11.00PM
Bursa Malaysia Trade Statistics - 20 Dec 16
Institutions: Net BUY 5.3 mln (64.2%)
Retail: Net BUY 13.0 mln (14.9%)
Foreign: Net SELL 18.3 mln (20.9%)
Potential Momentum Stocks - 21 Dec 16
Stock Name: GHLSYS (0021)
Entry: Buy above RM0.84
Target: RM0.915 (8.9%), RM0.99 (17.9%)
Stop: RM0.795 (-5.4%)
Shariah: Yes
Technical: Short-term consolidation breakout
Stock Name: WILLOW (0008)
Entry: Buy above RM0.75
Target: RM0.78 (4.0%), RM0.81 (8.0%)
Stop: RM0.72 (-4.0%)
Shariah: Yes
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
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