KUALA LUMPUR: Bursa Malaysia cooled off early Monday after the late keep running up in the FBM KLCI a week ago as unrefined petroleum costs slipped yet GFM Services was in concentrate on its exchanging debut on the ACE Market. At 9.23am, the KLCI was down 0.83 of an indicate or 0.05% 1,674.66. Turnover was 231.51 million shares esteemed at RM97.40mil. There were 218 gainers, 135 failures and 211 counters unaltered.
Kenanga Investment Research said while the quick term viewpoint of the KLCI looks ruddy now of time, we don't markdown the potential outcomes of the key list taking a sideways breather this week to kill its overbought condition. "All in, we expect an upward-inclination exchanging range inside 1,665-1,692 this week. Resistance levels are topped at 1,680 (R1)/1,692 (S2), while backings are available at 1,665 (S1) trailed by 1,657 (S2)," it said.
Oil stopped its progress underneath US$54 a barrel as an expansion in US penetrating countered signs OPEC individuals including Saudi Arabia are adhering to arranged yield slices to balance out the market, Bloomberg reported. At Bursa Malaysia, GFM bounced 10 sen to 48 sen with 21.95 million shares done.
BAT fell 18 sen to RM45.12 and Nestle shed four sen to RM77.20. With respect to manors, Genting Plantations lost 16 sen to RM10.90 and Batu Kawan was down eight sen to RM18.30 yet FGV rose seven sen to RM1.77.
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Reference:http://www.thestar.com.my/business/business-news/2017/01/09/market-takes-a-breather-gfm-in-focus/
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