KUALA LUMPUR: Penny oil and gas stocks, particularly Sumatec saw overwhelming exchange early Tuesday, riding on the solid unrefined petroleum costs however the general more extensive market was careful.
At 9.14am, the FBM KLCI was up 0.69 of a point or 0.04% to 1,826.60. Turnover was 732.27 million offers esteemed at RM163.67mil. There were 167 gainers, 209 washouts and 249 counters unaltered.
Maybank Research said the current amendment dragged the KLCI from a high of 1,840 to a low of 1,812. Until further notice, it trusts the benchmark record will head into a solidification mode, it said.
"Our fleeting mindful state of mind is likewise reflected by the facilitating specialized scene. Stochastic has arranged a dead cross while MACD is losing force.
"Accordingly, another down leg might be prospective, as it tries to finish the present minor remedial wave. Support is seen at 1,793-1,812," said the examination house.
Asian offers drooped on Tuesday, as mineworkers were forced by weaker Chinese iron mineral costs, while the euro remained close to a three-year crest on rising desires that the European Central Bank could pare its money related boost.
MSCI's broadest list of Asia-Pacific offers outside Japan was down 0.2% in early exchange. US markets were shut for an open occasion on Monday. Australian offers slipped 0.5%.
Sumatec was the most dynamic with 274 million offers done, up two sen to 12.5 sen, its warrants added 1.5 sen to 5.5 sen while Perisai increased one sen to six sen.
UMW Oil and Gas rose 0.5 sen too 42 sen however Hubline fell 1.5 sen to 13.5 sen.
Refiners Hengyuan and Petron were among the best failures for the second day on benefit taking after the stellar rally.
Hengyuan fell 82 sen to RM14.32 and Petron 72 sen to RM12.06. Hengyuan's call warrant additionally hoarded the washouts' rundown.
Settle was the best gainer, up RM1.70 to RM105.90, Top Glove added nine sen to RM9, CCM six sen higher to RM2.19 while Litrak and Genting added five sen each to RM5.65 and RM9.38.
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