KUALA LUMPUR: CIMB supported the FBM KLCI’s progress early Thursday after its record quarterly profit while the ringgit ascended against the US dollar and raw petroleum costs progressed. – Stock Market Today
At 10am (Stock Market Today ), the KLCI was up 5.78 focuses or 0.33% to 1,776.79.
Turnover was 793.39 million offers esteemed at RM502.75mil. The more extensive market was more mindful as advancers trailed behind decliners at 245 gainers to 352 washouts and 336 stocks were unaltered.
The ringgit ascended against the US dollar, climbing 0.34% to 4.277 from 4.291. Year-to-date, the ringgit is up 4.86% to the green once more from 4.4845.
Reuters revealed oil costs ascended in front of an Opec meeting on Thursday that is relied upon to broaden a generation cut gone for fixing the market well into 2018, adding no less than nine months to an underlying six-month cut in the principal half of this current year. – Stock Market Today
Brent unrefined prospects were exchanging at $54.40 per barrel at 0118 GMT, up 44 pennies, or 0.82% from their last close. US West Texas Intermediate (WTI) rough prospects were at US$51.76, up 40 pennies, or 0.78%. Both benchmarks have risen over 16% from their May lows.
At Bursa Malaysia, CIMB rose 17 sen to RM6.30 – the second sttraught day affter its record comes about. HLFG added 34 sen to RM16.60.
Refiners were the top gainers as the administration modified the costs of retail fuel on Thursday. Hengyuan hopped 52 sen to RM5.82 and Petron added 13 sen to RM8.83.
Wing Tai rose closer to its takeover cost of RM1.80 when it added 25 sen to RM1.78. – Stock Market Today
Lafarge arranged a gentle bounce back, adding 12 sen to RM5.22 in the wake of going under offering weight as of late after it posted misfortunes in the principal quarter.
Inta Bina, a development organization which was the first to be recorded on the Ace Market, added five sen to 30 sen. It was the most dynamic with 86.3 million offers done.
DRB-Hicom rose eight sen to RM1.76 as financial specialists were calmed that misfortune making Proton had found a remote vital accomplice.
Under the understanding marked on Wednesday, DRB-Hicom will somewhat strip Proton to Geely (through new offer issuance) and completely strip Lotus to Geely and Etika Strategy. DRB-Hicom and Geely will possess 50.1% and 49.9% stake separately in Proton.
“We keep up BUY suggestion with higher target cost of RM2.58 (from RM2.22) in view of 20% markdown to total of-parts,” Hong Leong Investment Bank Research said.
Be that as it may, AirAsia X kept on going under some offering weight, falling 2.5 sen to 42.5 sen with 77.55 million offers done.
DKSH was the top failure, down 39 sen to RM4.82, BAT was down 28 sen to RM44.72 and Petronas Dagangan lost 18 sen to RM24.20.
Pos Malaysia call warrants C6 lost 14 sen to 29 sen and its offers were down 13 sen to RM5.05.
Lion Industries went under benefit taking after the current ascent when investigators turned more optimisitc about its viewpoint. It fell 11 sen to RM1.07.
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