Market Pulse - Re-capturing 1,600

The FBM KLCI bucked the regional downtrend as bargain hunting activities in selected plantation, energy, and banking stocks lifted the key index. Given the negative performance on the Wall Street, we expect some profit taking activities may emerge on the local front, especially on the technology stocks. Also, the crude oil price dipped, trading around the USD101 per barrel mark after the members of International Energy Agency (IEA) agreed to release oil from their emergency reserves.