KUALA LUMPUR : Positive news spill out of Sime Darby and picks up in raw petroleum costs supported Petronas connected stocks pushed the FBM KLCI immovably higher early Tuesday.
At 9.38am, the KLCI was up 5.83 focuses or 0.35% to 1,671.15. Turnover was 215.26 million shares esteemed at RM145.81mil. There were 247 gainers, 130 failures and 243 counters unaltered.
Asian shares were blended in early Asian exchanging on Tuesday after oil costs surged to a one-year high, Reuters reported.
Brent rough rose to as high as US$53.73 on Monday, the most abnormal amount since Oct 9, 2015. It shut everything down at $53.14. US unrefined prospects hopped 3.1% to US$51.26 on Monday, a four-month high. They were exchanging 0.1% lower at US$51.28 at 0022 GMT.
Kenanga Investment Bank Research brought up the ringgit is debilitating further, to 4.15 levels against the greenback, which does not contend well for the market notion.
“On the flipside, raw petroleum costs are inclining upward to over the US$50 a barrel levels which is conveying cheers to some oil and gas stocks.
“As we anticipate that the market will remain run exchanging, we hold fast to our exchanging methodology of Buy on Weakness zone of underneath 1,625 and Sell on Strength level above 1,715 which is our end-2016 record target,” said the exploration house.
Sime Darby rose nine sen to RM7.86 after the combination consented to a usage arrangement with Japan Residential Asset Manager Ltd (JRAM), the director of Saizen REIT for the turn around takeover of Saizen REIT.
Petronas Dagangan added 20 sen to RM23.70 and Bumi Armada increased one sen to 70.5 sen.
Among alternate gainers, KLCC and Superlon added nine sen to RM7.84 and RM2.41. CCK bounced 7.5 sen to 67.5 sen.
BAT was the top gainer, up 70 sen to RM49.50 yet F&N fell 28 sen to RM23.90 with 500 shares done.
Bina Puri rose 3.5 sen to 45 sen. Bina Puri will collaborate with CCCC Dredging (Group) Co Ltd to manufacture the Kuantan Waterfront Resort City with a gross advancement estimation of RM15bil throughout the following 10 years.
Perisai was level at 7.5 sen with 29.9 million shares done. Perisai offers have sunk to an unequaled low.
For the monetary year finished Dec 31, 2015, the organization posted a misfortune before assessment of RM688.15mil contrasted and a pre-impose benefit of RM27.87mil in the previous year. The misfortune inferable from shareholders was RM706.32mil.
Our Recommendation for KLSE ACTIVE TRADER.
KLSE INTRADAY SIGNAL : BUY LAYHONG AT 11.00 TARGET 11.38, 11.77 SL 10.60 ww.mmfsolutions.my
KLSE POSITIONAL SIGNAL : BUY LAYHONG AT 11.00 TARGET 12.00, 13.10 SL 10.00 www.mmfsolutions.my
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