Dow Jones: 21,115.55 pts (+303.31pts, +1.46%)
Wall Street staged a sharp rally overnight as the Dow topped the 21,000 psychological level, fuelled by optimism over Donald Trump's speech to the Congress coupled with the upbeat manufacturing data. The 21,500 will serve as the next resistance level.
FBM KLCI: 1,697.69 pts (+3.92pts, +0.23%)
The FBM KLCI (+0.2%) rebounded from a streak of four sessions of losses yesterday, lifted by the upbeat manufacturing data from China. The immediate resistance level is located around the 1,700 level.
Crude Palm Oil: RM2,831 (+RM61, +2.20%)
Crude palm oil extended its gains on rising demand from Indonesia biodiesel. The RM2,700 level will serve as the immediate support level.
WTI Crude Oil: $53.83 (-$0.18, -0.33%)
Crude oil prices fell on record U.S. inventory level. Crude oil prices might trend between the US$50-US$55 levels.
Gold: $1,249.69 (+$1.25, +0.10%)
Gold prices recovered its intraday losses before closing marginally higher. The US1,300 will serve as the next resistance level.
Economic Releases:
MY - Malaysia's Bank Negara Interest Rate Decision, 2 Mar 17, 3.00PM
EU- Eurozone's Unemployment Rate - 2 Mar 17, 6.00PM
EU- Eurozone's Producer's Price Index - 2 Mar 17, 6.00PM
Bursa Malaysia Trade Statistics - 1 Mar 17
Institutions: Net BUY 46.7 mln (62.8%)
Retail: Net SELL 44.9 mln (19.2%)
Foreign: Net SELL 1.8 mln (18.0%)
Potential Momentum Stocks - 2 Mar 17
Stock Name: IWCITY (1589)
Entry: Buy above RM1.24
Target: RM1.35 (8.9%), RM1.45 (16.9%)
Stop: RM1.17 (-5.6%)
Shariah: Yes
Technical: Breakout-pullback-continuation
Stock Name: PENERGY (5133)
Entry: Buy above RM1.04
Target: RM1.14 (9.6%), RM1.25 (20.2%)
Stop: RM0.99 (-4.8%)
Shariah: Yes
Technical: Resistance breakout
Source: Bloomberg, M+ Online
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