Dow Jones: 21,963.92 pts (+72.80pts, +0.33%)
U.S. stockmarkets finished at fresh record high levels as the Dow gained 0.3% boosted by stronger-than-expected corporate earnings. The next resistance is located at 22,000.
FBM KLCI: 1,765.13 pts (+5.10pts, +0.29%)
Buying support in selective banking heavyweights sent the FBM KLCI 0.3% higher yesterday as gains were also in line with the positive sentiment across key regional indices. The key index is likely to remain rangebound between the 1,750-1,770 levels.
Crude Palm Oil: RM2,654 (-RM21, -0.79%)
Crude palm oil prices retreated on concern over the high production level. The immediate resistance is envisaged around RM2,700.
WTI Crude Oil: $49.16 (-$1.01, -2.00%)
Crude oil prices halted a six consecutive winning streak on unexpected build-up in U.S. stockpiles. The next resistance is located at US$52.
Gold: $1,268.76 (-$0.68, -0.05%)
Gold prices extended its losses as demand in safe haven assets fades. The immediate resistance will be pegged around US$1300.
Economic Releases:
EU - Eurozone's Producer Price Index, 5.00PM
Bursa Malaysia Trade Statistics - 1 Aug 17
Institutions: Net SELL 87.5 mln (56.4%)
Retail: Net BUY 23.7 mln (22.3%)
Foreign: Net BUY 63.8 mln (21.3%)
Potential Momentum Stocks - 2 Aug 17
Stock Name: OCK (0172)
Entry: Buy above RM0.915
Target: RM0.985 (7.7%), RM1.00 (9.3%)
Stop: RM0.885 (-3.3%)
Shariah: Yes
Technical: Trendline breakout
Stock Name: CCK (7035)
Entry: Buy above RM0.93
Target: RM0.985 (5.9%), RM1.05 (12.9%)
Stop: RM0.90 (-3.2%)
Shariah: Yes
Technical: Breakout-pullback-continuation
Source: Bloomberg, M+ Online
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