Thursday, 2 March 2017

KLCI up nearly 15 points at midday

 Malaysian Stock Picks

KUALA LUMPUR: Maybank, Petronas Chemicals and Sime Darby supported the FBM KLCI's rally on Thursday on firm reserve purchasing as speculator estimation livened up in accordance with the key local markets. 

At 12.30pm, the KLCI was up 14.53 focuses or 0.86% to 1,712.22. Turnover was 1.83 billion shares esteemed at RM1.25bil. There were 515 gainers, 268 washouts and 360 counters unaltered. 

The dollar hit a seven-week high on Wednesday after hawkish remarks from two Federal Reserve authorities late on Tuesday helped desires that the U.S. national bank is nearer to raising financing costs, Reuters detailed. 

The ringgit edged lower against the US dollar to 4.4485 from 4.4480 yet progressed against the pound sterling to 5.4633 from 5.5047 and rose against the Singapore dollar to 3.1525 from 3.1577. It likewise moved against the Euro to 4.6851 from 4.6900. 

US light raw petroleum fell 12 pennies to US$53.71 while Brent shed seven pennies to US$56.29 after US inventories hit record high. 

Petronas Dagangan rose 42 sen to RM25.40, Petronas Chemicals added 16 sen to RM7.46 and pushed the KLCI up 2.12 focuses however Petronas Gas shed two sen to RM19.98. 

Rough palm oil for third-month conveyance shed RM4 to RM2,827 per ton. KL Kepong rose 20 sen to RM8.70, Far East added 20 sen to RM8.70, PPB Group 16 sen to RM16.76 and IOI Corp five sen to RM4.73. Sime Darby's nine sen pick up to RM9.13 added 1.01 focuses to the KLCI. 

BAT was the top gainer among customers, up 26 sen to RM48.86 while F&N added 18 sen to RM23.44. Sugar refiner and wholesaler MSM picked up 17 sen to RM4.60 after sugar cost was expanded. 

Be that as it may, Heineken lost 18 sen to RM17.962 on benefit taking and Carlsberg six sen bring down at RM14.42. 

With respect to fund and banks stocks, HLFG rose 30 sen to RM15.40 while Maybank's 14 sen pick up to RM8.76 pushed the KLCI up 2.36 focuses, Hong Leong Bank additionally picked up 14 sen to RM13.48, RHB Bank seven sen to RM5.01, CIMB five sen to RM5.14 and Public Bank added four sen to RM19.98. 

Time dotCom added 22 sen to RM8.67 and little top stock JHM surged 21 sen to RM2.64. 

Among the key local markets, 

Japan's Nikkei 225 rose 0.97% to 19,582.61; 

Hong Kong's Hang Seng Index added 0.36% to 23,862.31; 

CSI 300 shed 0.12% to 3,454.42; 

Shanghai's Composite Index inche dup 0.03% to 3,248.02; 

Hang Seng China Enterprise increased 0.5% to 10,339.10; 

Taiwan's Taiex fell 0.23% to 9,652.19; 

South Korea's Kospi rose 0.47% to 2,101.54 and 

Singapore's Straits Times Index added 0.51% to 3,138.67. 

Spot gold fell US$3.11 to US$1,246.58.

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