Dow Jones: 26,118.02 pts (-285.26pts, -1.08%)
U.S. stockmarkets halted a three-day winning streak as the Dow fell 1.1%, bogged down by the weak Institute for Supply Management Purchasing Managers Index that fell to 49.1 in August 2019 - the first contraction since 2016. The immediate support is located at 25,400.

FBM KLCI: 1,591.52 pts (-20.62pts, -1.28%)
The FBM KLCI (-1.3%) erased all its previous session gains as selling activities from foreign funds return to the forefront. The immediate support is located at 1,570.

Crude Palm Oil: RM2,181 (-RM53, -2.37%)
Crude palm oil prices formed a bearish engulfing candle, tracking the slump in soybean oil prices. The immediate support is located around RM2,100.

WTI Crude Oil: $53.94 (-$1.16, -2.11%)
Crude oil prices extended its losses on concern over demand amid a slew of sluggish global economic data. The immediate support is located at US$50.

Gold: $1,547.10 (+$17.81, +1.16%)
Gold prices extended its gains as demand for safe haven assets surged. The immediate resistance is located around $1,550.

Economic Releases:
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Stock Name: FAVCO (7229)
Entry: Buy above RM2.78
Target: RM2.88 (3.6%), RM3.00 (7.9%)
Stop: RM2.71 (-2.5%)
Shariah: Yes
Technical: Bullish harami candle

Stock Name: FRONTKN (0128)
Entry: Buy above RM1.62
Target: RM1.72 (6.2%), RM1.80 (11.1%)
Stop: RM1.53 (-5.6%)
Shariah: Yes
Technical: Monitor for breakout

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.