KUALA LUMPUR: Blue chips broadened their misfortunes for the second day on Thursday on absence of asset backing in the midst of the dull corporate profit while alert beat the manageability of the raw petroleum value rally.
In any case, AirAsia and AirAsia X kept on being in the focus on expected more grounded income in the second quarter finished June 30.
At 9.23am, the KLCI was down 2.38 focuses or 0.14% to 1,691.94. Turnover was 376.52 million shares esteemed at RM134mil. There were 178 gainers, 144 washouts and 232 counters unaltered.
Reuters reported Asian stocks edged up from the get-go Thursday and the dollar fell after the Federal Reserve's most recent meeting minutes demonstrated policymakers were in no rush to add to US acquiring costs.
Oil costs plunged in early exchanging on Thursday as the possibility of record Saudi yield weighed on business sectors and as merchants capitalized on benefits taking after a practically continuous value rally this month of almost 20%.
Global Brent unrefined petroleum fates were exchanging at US$49.67 per barrel at 0050 GMT, down 18 pennies from their last close. West Texas Intermediate (WTI) rough fates were level at US$46.79.
Hong Leong Investment Bank (HLIB) Research expects a mellow combination in the midst of the bullish week by week MACD and RSI pointers. It stays positive that the KLCI will break the 1,700 unequivocally after a brief union to test 1,716 (100-w SMA), 1,729 (YTD high) and 1,739 (LT objective) in the long haul.
"We anticipate that KLCI will take part in a mellow solidification in the midst of toppish KLCI every day and week by week moderate stochastic pointers. Supposition may turn more careful as we grasp a whirlwind of huge tops results in the following two weeks amid the August reporting season.
"In any case, any pullback will be all around consumed in foresight of more jolt driven and accommodative strategy measures by key national banks and government, the arrival of higher yield looking for assets into developing markets and bounce back in the "Twin" raw petroleum and palm oil costs combined with settling Ringgit," it said.
SAM Engineering fell the most, down 51 sen to RM6.99 after the dreary results. Amway fell 19 sen to RM8.77 subsequent to baffling results.
PPB Group fell 16 sen to RM16 and Genting Plantations lost 12 sen to RM10.42.
HLFG lost 16 sen to RM15.88 and Hong Leong Bank was down six sen to RM13.08 in slender exchange.
AirAsia rose nine sen to RM3.20 and AirAsia X added 1.5 sen to 47.5 sen. AAX-CU rose 1.5 sen to 10 sen, AAX-CV climbed one sen to 14 sen and the warrants 0.5 sen to 31 sen.
BAT added 30 sen to RM50.40. CIMB Equities Research is holding its Reduce call for British American Tobacco (Malaysia) Bhd (BAT) and profit rebate model-based (DDM) target cost of RM50.
"Despite the fact that the gathering's rebuilding arrangements are relied upon to be certain in the long haul, fundamental worries on declining deals volume and effect of illegal cigarettes still exceed the positives," it said.
Zenith Healthcare rose 13 sen to RM3.95 and Takaful 11 sen to RM4.30.
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