Dow Jones: 24,099.05 pts (-64.10pts, -0.27%)
U.S. stockmarkets closed on a mixed note overnight as the Dow fell 0.3% amid the weak ISM Purchasing Managers Index that fell to 57.3 in April 2018 - the slowest expansion since July 2017, but the S&P 500 and Nasdaq chalked in 0.3% and 0.9% gains respectively. The immediate resistance is located at 25,000.

FBM KLCI: 1,870.37 pts (+6.90pts, +0.37%)
The FBM KLCI (+0.4%) formed a bullish engulfing candle to edge higher for the third straight session on Monday, supported by the foreign fund inflow. The immediate resistance is located at 1,880.

Crude Palm Oil: RM2,362 (-RM20, -0.84%)
Crude palm oil prices retreated for the fourth consecutive session, dragged down by Malaysia's move to re-instate the 5.0% export tax in CPO coupled with the declining soybean oil prices. The immediate support is envisaged around RM2,350.

WTI Crude Oil: $67.25 (-$1.32, -1.93%)
Crude oil prices formed a bearish engulfing candle after American Petroleum Institute (API) reported a large build of 3.4 mln barrels of U.S. crude oil inventories.  The immediate resistance is located at US$70.

Gold: $1,303.85 (-$11.54, -0.88%)
Gold prices retreated to erase its YTD gains on the stronger U.S. Dollar against a basket of currencies. The immediate resistance will be pegged around US$1,360.

Economic Releases:
JP - Japan's Nikkei Services PMI, 8.30AM
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
EU - Eurozone's Unemployment Rate, 5.00PM

Bursa Malaysia Trade Statistics - 1 May 18
Institutions:  Net SELL 164.9 mln (50.1%)
Retail:  Net SELL 84.2 mln (18.1%)
Foreign:  Net BUY 249.1 mln (31.8%)

Potential Momentum Stocks - 2 May 18 
Stock Name: MBSB (1171)
Entry: Buy above RM1.16
Target: RM1.26 (8.6%), RM1.31 (12.9%)
Stop: RM1.09 (-6.0%)
Shariah: No
Technical: Monitor for trendline breakout

Stock Name: SUNCON (5263)
Entry: Buy above RM2.18
Target: RM2.34 (7.3%), RM2.48 (13.8%)
Stop: RM2.07 (-5.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

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