KLSE Traders Update and Ideas

Daily Market Update - 3 Dec 2019

mplus313
Publish date: Tue, 03 Dec 2019, 09:51 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,783.04 pts (-268.37pts, -0.96%)
U.S. stockmarkets started off the week on a dour note as the Dow sank 1.0%, bogged down by the sluggish ISM Manufacturing PMI that fell to 48.1 in November 2019 - below consensus estimates at 49.4. The immediate support is located at 27,000.

FBM KLCI: 1,570.55 pts (+8.81pts, +0.56%)
The FBM KLCI (+0.6%) rebounded on bargain hunting activities in selected index heavyweights in line with gains across Asia equities yesterday. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,731 (-RM13, -0.47%)
Crude palm oil prices halted a three-day winning streak on lower exports in November 2019 as India looks to shift their purchases into other edible oils following the recent CPO price rally. The immediate resistance is located around RM2,800.

WTI Crude Oil: $55.96 (+$0.79, +1.43%)
Crude oil prices rebounded on optimism surrounding upcoming OPEC meeting over futher supply curb. The immediate support is located at US$51.

Gold: $1,462.44 (-$1.54, -0.11%)
Gold prices edged lower as gains were capped by the rising Greenback against a basket of currencies. The immediate resistance is located around $1,500.

Economic Releases:
EU - Eurozone's Producer Price Index, 6.00PM
JP - Japan's Jibun Bank Composite PMI, 8.30AM
JP - Japan's Jibun Bank Services PMI, 8.30AM
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Composite PMI, 5.00PM
EU - Eurozone's Markit Services PMI, 5.00PM
US - United States' Markit Services PMI, 10.45PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

Source: Bloomberg, M+ Online

 

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