Rollercoaster ride for Wall Street continues

And the rollercoaster ride for Wall Street continues. Extending their recent volatile swings, key U.S. equity indices jumped between 3.9% and 4.7% last night following news of a drop in jobless claims.

The positive overnight lead should calm investors around the region today. Back home, the benchmark FBM KLCI could stage a technical rebound but may struggle to cross the immediate resistance level of 1,495 ahead. In terms of news flows, Prime Minister Najib Razak is scheduled to make an investment announcement in East Coast this morning while on the corporate front, Alam Maritim has secured oil & gas services contracts worth RM20m and Catcha Media has served up a negative surprise after amending its strategic alliance agreement with Microsoft to less favorable terms. Later in the evening, Genting Singapore (a subsidiary of Malaysia-listed Genting Bhd) is due to release its latest quarterly earnings.