KUALA LUMPUR: Blue chips plunged early Tuesday with Petronas Gas and UMW among the top decliners while JAKS Resources went under substantial offering weight after its FY16 budgetary outcomes.
At 9.37am, the KLCI was down 0.12 of an indicate or 0.01% 1,693.72. Turnover was 376.02 million shares esteemed at RM196.83mil. There were 173 gainers, 311 washouts and 284 counters unaltered.
The US dollar was consistent from the get-go Tuesday, getting a charge out of support after US President Donald Trump hailed a major lift in government boost, and looked for a "notable" increment in military spending, Reuters detailed.
Trump will request that the US Congress help Pentagon spending in the following financial year by US$54bil in his first spending proposition, a White House spending official said on Monday.
Maybank Investment Bank Research said the KLCI had on Monday pared early picks up to settle in red, falling 4.51 focuses to close at 1,693.84. Negative opinion influenced the more extensive market with washouts outpacing gainers by 643 to 297. Exchanging volume was 2.90 billion shares worth RM2.14bil.
"The benchmark list is presently beneath the 20-day EMA line in this way prone to test the accompanying bolster levels, which are pegged at 1,685 and 1,667," said the exploration house.
JAKS Resources fell 17 sen to RM1.06 with 19.26 million shares done in the wake of posting a weaker-than-anticipated outcomes for FY16.
Be that as it may, Affin Hwang Capital Research is keeping up its Buy call with a lower target cost of RM1.70 (RM2), as the essentials of the organization stays unaltered, in spite of the baffling feature benefit after assessment and minority enthusiasm of RM7000,000 for FY16.
"The weaker than anticipated outcomes was essentially because of a few unique cases, and JAKS's powerlessness to perceived any EPC contract income in the 4QFY16," it said.
UMW Oil and Gas fell five sen to 63.5 sen in dynamic exchange subsequent to making arrangements of about RM900mil in FY16.
MSC fell 38 sen to RM3.73, Petronas Gas 30 sen bring down at RM19.98 and UMW 20 sen to RM5.38. Age fell 17 sen to RM2.33 on benefit taking.
BAT bounced back to climb 42 sen to RM48.92, Oriental Holdings added 20 sen to RM6.65.
Petronas Dagangan rose 10 sen to RM24.58, Sime Darby nine sen to RM9.16 and KL Kepong eight sen to RM24.28.
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