Dow Jones: 20,619.77 pts (+7.91pts, +0.04%)
Wall Street ended mixed overnight as the Dow (+0.04%) edged marginally higher to a fresh record closing but the S&P 500 fell 0.1% on selling activities in banking stocks.

FBM KLCI: 1,707.59 pts (-2.20pts, -0.13%)
Despite the stronger-than-expected 4Q2016 GDP data, the FBM KLCI (-0.1%) trended lower yesterday on profit taking in selective banking heavyweights. The immediate resistance level is located around the 1,730 level.

Crude Palm Oil: RM2,929 (-RM39, -1.31%)
Crude palm oil prices tanked below the RM3,000 psychological level on concern over recovery in production. The RM2,900 level will serve as the immediate support level.

WTI Crude Oil: $53.36 (+$0.25, +0.47%)
Crude oil prices reversed all its intraday losses after OPEC signals a potential additional output cut. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,239.04 (+$5.34, +0.43%)
Gold prices advanced for the third straight session after the stronger inflation data in US could lead to sooner-than-expected interest rate hike. The US1,250 will serve as the immediate resistance level.

Bursa Malaysia Trade Statistics - 16 Feb 17
Institutions:  Net SELL 32.9 mln (64.0%)
Retail:  Net SELL 2.7 mln (16.4%)
Foreign:  Net BUY 35.6 mln (19.6%)

Potential Momentum Stocks - 17 Feb 17 
Stock Name: TEOSENG (7252)
Entry: Buy above RM1.25
Target: RM1.41 (12.8%), RM1.49 (19.2%)
Stop: RM1.13 (-9.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: AJIYA (7609)
Entry: Buy above RM0.74
Target: RM0.825 (11.5%), RM0.89 (20.3%)
Stop: RM0.685 (-7.4%)
Shariah: Yes
Technical: Short-term consolidation 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.