Thursday, 19 January 2017

PPB, Genting, WCT down early Thursday, Ringgit dips

 Malaysian Share Market

KUALA LUMPUR: PPB Group, Genting Bhd and WCT Holdings were among the greatest failures early Thursday on benefit taking and corporate news while the Ringgit fell against the more grounded US dollar. 

At 10.01am, the KLCI was down 1.12 focuses or 0.07% to 1,663.90. Turnover was 481.74 million shares esteemed at RM223.91mil. There were 231 gainers, 175 failures and 279 counters unaltered. 

The dollar crept up against the yen and kept wide picks up against other real companions at an early stage Thursday, subsequent to bouncing back forcefully overnight on remarks by Federal Reserve Janet Yellen proposing US loan costs could be raised rapidly this year, Reuters revealed. 

The dollar's ascent, in any case, was tempered as brokers were wary in front of US President-elect Donald Trump's initiation on Friday. 

The ringgit debilitated 0.18% on the day to 4.4510 from the past close of 4.4430. 

Kenanga Investment Bank Research said waiting vulnerabilities hold on over the President-elect Donald Trump's arrangements going into his initiation day on Friday. 

"Along these lines, upside is probably going to be topped at 1,680 (R2) in the quick term, while we expect a fairly quieted exchange to close the week. Prompt resistance is seen at 1,667 (R1), while drawback backings are noted at 1,657 (S1)/1,640 (S2)," it said. 

BAT fell 28 sen to RM44.68 and PPB Group was down 18 sen to RM16.08 while WCT lost 10 sen to RM1.78. Globetronics and Genting lost six sen each to RM3.87 and RM8.27. Astro shed five sen to RM2.72. 

AirAsia proceeded with its propelled seven sen to RM2.70 in dynamic exchange. SILK Holdings increased 5.5 sen to 46 sen after the offer of its concession advantage for Permodalan Nasional Bhd for RM380mil money. 

Settle was the top gainer, up 58 sen to RM74.80 with 100 shares done and Heineken picked up 12 sen to RM16.04 and Carlsberg edged up six sen to RM14. 

Shell added six sen to RM2.58 which was a lofty increment over the takeover cost of RM1.92.

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