Thursday, 30 June 2016

Window dressing sees KLCI climbing nearly 10pt at midday

Multi Management & Future Solutions

KUALA LUMPUR: Blue chips ended Thursday morning on a company observe, with the FBM KLCI up nearly 10 points, underpinned via fund buying of Maybank, Axiata and Sime Darby as issues from the britain's go out from the european abated.

At noon, the KLCI became up nine.95 points or zero.sixty one% to one,652.sixteen noon. Turnover became 720.89 million stocks valued at RM678.31mil. There were 290 gainers, 325 losers and 351 counters unchanged.

Hong Kong stocks extended their bounce on Thursday morning, monitoring international markets as post-Brexit fears eased, but chinese shares dipped from 3-week highs on income-taking.

The ringgit rose in opposition to the primary currencies. It superior in opposition to the usa greenback to four.0217 from 4.0405 and firmed up in opposition to the pound sterling to five.3880 from five.4106. It changed into at 2.9817 to the Singapore dollar from 2.9965 and advanced to 4.4674 to the euro from 4.4696.

Bloomberg mentioned Goldman Sachs anticipated a charge reduce at subsequent bank Negara meeting to pre-emptively support home demand and boom.

however, the studies house cut its complete year GDP forecast to 4.2% from four.four% due to a decline in Malaysia’s lending increase and weaker economic pastime of primary buying and selling partners.

Goldman Sachs maintained forecast for the ringgit to weaken to 4.3 towards the us greenback via end of 2016

Maybank rose six sen to RM8.18 and brought one point to the KLCI. HLFG superior 18 sen to RM14.forty eight, Public financial institution and Hong Leong bank won 10 sen each to RM19.40 and RM13.18 whilst CIMB and RHB financial institution have been up six sen to RM4.34 and RM5.14.

As for telcos, Axiata rebounded eight sen to RM5.sixty eight, Maxis three sen to RM5.84 but Telekom fell five sen to RM6.77 and Digi one sen to RM4.76.

Crude palm oil for 1/3-month delivery rose RM40 to RM2,363 according to tonne. Heavyweight Sime Darby rose 14 sen to RM7.60, PPB organization two sen to RM16.44, IOI Corp become flat at RM4.37 and KL Kepong fell 10 sen to RM23.12.

Chip burn-in tester KESM rose 32 sen to RM5.55 however MPI fell 23 sen to RM7.fifty two.

As for consumer stocks, BAT turned into up 60 sen to RM51.forty however F&N lost sixteen sen to RM25.34.

US mild crude oil fell 48 cents to US$forty nine.40 while Brent lost sixty one cents to US$50. SK Petro was the most active most of the oil and gas shares, up  sen to RM1.forty seven. Petronas Dagangan delivered 12 sen to RM23.48, Petronas chemical substances seven sen to RM6.fifty seven and Petronas gasoline was flat at RM22.

most of the key nearby markets,

Japan’s Nikkei 225 rose 0.eighty five% to fifteen,699.60;

Hong Kong’s grasp Seng Index climbed 1.6% to 20,762.40;

CSI 300 shed 0.03% to three,150.forty five;

Shanghai’s Composite Index lost 0.24% to two,924.47;

Shenzhen Composite misplaced 0.36% to one,966.20;

grasp Seng China enterprise rose 1.fifty three% to eight,702.31;

Taiwan’s Taiex brought zero.77% to 8,562.82;

South Korea’s Kospi received zero.67% to at least one,969.38 and

Singapore’s Straits times Index jumed 1.seventy six% to 2,841.ninety nine.

Spot gold fell US$four.20 to US$1,314.95.


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