Oil Price Up 11% but Fundamental No Change - Cautious View

Oil price up 11% but we do not see any fundamental changed. Stocks is still building up estimated around 2.3m barrels at Oklahoma. We shall maintain our cautious view in market. Do consider avoiding penny stocks without fundamentals support. 

3 Feb Tuesday 

Dow 17,361.04 (+196.09)
Nasdaq 4,676.69 (+25.86)
S&P 2,020.85 (+41.45)
Gold 1,276.20 (-2.3)
Brent oil 55.08 (+2.09)
WTI crude 49.57 (+1.33)

US stocks ended sharply higher on Monday after a late rally driven by hopes for a Greek debt deal & as energy shares bounced with oil prices.

Crude oil prices rebounded in Asia on Tueday ahead of data on US stockpiles expected to set a tone for the market.

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FTSE 6,783.55 +33.15
DAX 10,828.01 +133.69

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HSI 24,484.74 -22.31
Nikkei 17,558.04 -116.35
STI straits times 3,423.35 +32.15
China A50 3,277.59 -86.28

Asian shares skid as China data disappoints (PMI Index fell to 49.8 last month from 50.1 in Dec) according to data. It missed the median estimate of 50.2 in a Bloomberg News survey of analysts and for the first time since Sept 2012 fell below the 50 level that separates growth from contraction.

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Happy Thaipusam