Dow Jones: 20,728.49 pts (+69.17pts, +0.33%)
U.S. stockmarkets closed higher overnight fuelled by higher crude oil prices as the Dow added 0.3%. The 21,000 will serve as the immediate resistance level.
FBM KLCI: 1,749.25 pts (-1.16pts, -0.07%)
The FBM KLCI (-0.1%) extended its losses, dragged down by the weakness in financial shares. The immediate support level is located around the 1,730 level.
Crude Palm Oil: RM2,659 (-RM62, -2.28%)
Crude palm oil prices erased all its previous two sessions’ gains to close at five-month low, taking cue from the weakness in soybean oil prices. The RM2,600 level will serve as the immediate support level.
WTI Crude Oil: $50.35 (+$1.10, +2.27%)
Crude oil prices advanced above US$50 as an extension over OPEC production cut are in the cards. Crude oil prices might trend between the US$50-US$55 levels.
Gold: $1,242.64 (-$2.94, -0.24%)
Gold prices retreated on slower demand. The US$1,200 will serve as the immediate support level.
Economic Releases:
JP - Japan's Inflation Rate - 31 Mar 17, 7.30AM
MY - Malaysia's Producer Price Index - 31 Mar 17, 12.00PM
Bursa Malaysia Trade Statistics - 30 Mar 17
Institutions: Net SELL 223.4 mln (58.5%)
Retail: Net SELL 0.7 mln (19.9%)
Foreign: Net BUY 224.1 mln (21.6%)
Potential Momentum Stocks - 31 Mar 17
Stock Name: ECOWLD (8206)
Entry: Buy above RM1.53
Target: RM1.62 (5.9%), RM1.74 (13.7%)
Stop: RM1.47 (-3.9%)
Shariah: Yes
Technical: Symmetrical triangle breakout
Stock Name: JOHOTIN (7167)
Entry: Buy above RM1.34
Target: RM1.48 (10.4%), RM1.60 (19.4%)
Stop: RM1.30 (-3.0%)
Shariah: Yes
Technical: Trendline breakout
Source: Bloomberg, M+ Online
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