Dow Jones: 19,891.00 pts (-63.28pts, -0.32%)
U.S. stockmarkets retreated overnight as the Dow fell 0.3% but managed to recover most of its intraday losses ahead of the release of 4Q2016 corporate earnings
FBM KLCI: 1,677.76 pts (+2.55pts, +0.15%)
The FBM KLCI (+0.2%) recorded its third straight gain yesterday, buoyed by the firmer Ringgit and higher crude oil prices. The next resistance level is located around the 1,700 level.
Crude Palm Oil: RM3,116 (-RM17, -0.54%)
Crude palm oil prices retreated on stronger Ringgit against the US Dollars. The RM3,200 level will serve as the immediate resistance level.
WTI Crude Oil: $53.01 (+$0.76, +1.45%)
Crude oil prices extended their gains on higher demand from China. Crude oil prices might trend towards the US$55-US$60 levels.
Gold: $1,195.43 (+$3.81, +0.32%)
Gold prices registered its fourth consecutive days of gains as it re-tested the US1,200 resistance level. The US1,200 will serve as the immediate resistance level.
Economic Releases:
US - US Production Price Index - 13 Jan 17, 9.30PM
US - US Retail Sales - 13 Jan 17, 9.30PM
Bursa Malaysia Trade Statistics - 12 Jan 17
Institutions: Net SELL 194.7 mln (60.6%)
Retail: Net SELL 31.7 mln (17.5%)
Foreign: Net BUY 226.4 mln (21.9%)
Potential Momentum Stocks - 13 Jan 17
Stock Name: KIMLUN (5171)
Entry: Buy above RM2.20
Target: RM2.26 (2.7%), RM2.40 (9.1%)
Stop: RM2.10 (-4.5%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: DRBHCOM (1619)
Entry: Buy above RM1.210
Target: RM1.36 (12.4%), RM1.41 (16.5%)
Stop: RM1.10 (-9.1%)
Shariah: Yes
Technical: Short-term consolidation breakout
Source: Bloomberg, M+ Online
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