Dow Jones: 21,082.95 pts (+70.53pts, +0.34%)
U.S. equities notched another round of gains, boosted by technology stocks as investors cheered the Federal Reserve's plans to trim its balance sheet. Subsequently, resistance is envisaged around 21,200 pts.
FBM KLCI: 1,773.96 pts (+2.95pts, +0.17%)
The FBM KLCI came off intraday highs, albeit still closing in the positive territory, mainly driven by gains in banking heavyweights as the local bourse continue to be rangebound in-between 1759 to 1783.
Crude Palm Oil: RM2,607 (+RM26, +1.01%)
Crude palm oil finished on a positive note, although selling-pressure in the last minute capped its gains to slightly more than 1.0% on Thursday. Next resistance is located around RM2,900.
WTI Crude Oil: $48.90 (-$2.46, -4.79%)
Crude oil prices plunged into the red, after the OPEC's decision to extend the cartel's production cut by another nine months at the current level disappointed investors expecting a deeper output cut. Further support will be pegged around US$45.
Gold: $1,255.67 (-$3.06, -0.24%)
Gold prices declined slightly overnight, on mild profit-taking activities as price begins to consolidate after the recent rally. Near-term support will be located around US$1,246.
Economic Releases:
US - US GDP Growth Rate - 26 May 17, 8.30PM
JP - Japan Inflation Rate - 26 May 17, 7.30AM
Bursa Malaysia Trade Statistics - 25 May 17
Institutions: Net SELL 95.1 mln (63.1%)
Retail: Net SELL 14.8 mln (20.0%)
Foreign: Net BUY 109.9 mln (16.9%)
Potential Momentum Stocks - 26 May 17
Stock Name: BPLANT (5254)
Entry: Buy above RM1.67
Target: RM1.74 (4.2%), RM1.82 (9.0%)
Stop: RM1.62 (-3.0%)
Shariah: Yes
Technical: Breakout momentum trade
Stock Name: TDM (2054)
Entry: Buy above RM0.70
Target: RM0.73 (4.3%), RM0.775 (10.7%)
Stop: RM0.675 (-3.6%)
Shariah: No
Technical: Breakout momentum trade
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.
Chart | Stock Name | Last | Change | Volume |
---|