Dow Jones: 21,899.89 pts (+196.14pts, +0.90%)
Wall Street extended its gains the Dow (+0.9%) recorded its biggest daily gain since April 2017 after political uncertainty fades. The immediate support is located at 21,200.
FBM KLCI: 1,774.22 pts (+2.60pts, +0.15%)
The FBM KLCI (+0.2%) rebounded in tandem with the mostly positive sentiment in Asian stockmarkets coupled with higher crude oil prices. The immediate resistance is located at 1,780.
Crude Palm Oil: RM2,737 (+RM26, +0.96%)
Crude palm oil prices ascending momentum continues towards 5-month high on concern over potential lower-than-expected production. The immediate resistance is envisaged around RM2,750.
WTI Crude Oil: $47.83 (+$0.46, +0.97%)
Crude oil prices staged a mild recovery but gains were capped by the higher U.S. gasoline supply. The next resistance is located at US$52.
Gold: $1,285.08 (-$6.80, -0.53%)
Gold prices retreated as investor access the upcoming meeting between global central bankers over the weekend. The immediate resistance will be pegged around US$1300.
Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM
US - United States' New Home Sales, 10.00PM
Bursa Malaysia Trade Statistics - 22 Aug 17
Institutions: Net BUY 107.8 mln (60.2%)
Retail: Net SELL 8.4 mln (20.9%)
Foreign: Net SELL 99.4 mln (18.9%)
Potential Momentum Stocks - 23 Aug 17
Stock Name: JAYCORP (7152)
Entry: Buy above RM1.48
Target: RM1.57 (6.1%), RM1.62 (9.5%)
Stop: RM1.41 (-4.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation
Stock Name: YONGTAI (7066)
Entry: Buy above RM1.47
Target: RM1.61 (9.5%), RM1.70 (15.6%)
Stop: RM1.35 (-8.2%)
Shariah: Yes
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
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