Stock Picks- KLCI over 1,750 early Thursday as Tenaga, HL Bank progress

Stock Picks

KUALA LUMPUR: Blue chips climbed early Thursday supported by picks up in Tenaga Nasional and Hong Leong Bank and pushed the FBM KLCI (Stock Picks) simply over the key 1,750 level.

At 9.24am (Stock Picks),

the KLCI was up 3.93 focuses or 0.23% to 1,750.56. Turnover 325.05 million offers esteemed at RM122mil. There were 211 gainers, 156 failures and 217 counters unaltered.

Reuters revealed Asian markets offered a quieted response on Thursday to the entry of US tax breaks . Advantages to organization main concerns were at that point prepared into stock costs. While securities were spooked by the victory in government obligation expected to subsidize the giveaways.

MSCI’s broadest list of Asia-Pacific offers outside Japan plunged 0.1% in thin exchange (Stock Investment Tips), while Australian stocks lost 0.3%. Japan’s Nikkei facilitated 0.3%, however a softening yen ought to give some help to exporters.

Kenanga Investment Bank

Research trusts that the general specialized picture has enhanced altogether finished the previous month with the MACD pointer now in a bullish state .The KLCI (Klse Investment Picks) having bottomed-out positively following a three-month downtrend.

“As the year-end happy season moves nearer, anticipate that exchanging volumes will decrease and the likelihood of a consolidative respite between the 1,734 (S1) and 1,750 (R1) levels.

“Any breakout over the R1 level will however set our sights on 1,800 (R2) next. Opposingly, any break beneath the S1 bolster level is considered as exceptionally negative and could trigger a capitulation towards 1,729 (S2),” it said.

Among the KLCI stocks (Stock Tips), KL Kepong rose 32 sen to RM24.84. HL Bank 24 sen to RM16.96 while BAT and Tenaga picked up 10 sen each to RM35.20 and RM16.46.

Settle was the best gainer, up 38 sen to RM99.98 with 1,000 offers done.

Vitrox kept on riding the innovation wave, up 12 sen to RM6.52.

Benefit taking saw glove producers falling off their recoird highs. Kossan lost 28 sen to RM8.18, Hartalega lost 26 sen to RM11.14 .Top Glove 20 sen bring down at RM7.85.

Perdana Petroleum fell 5.5 sen to 30.5 sen with 25 million offers done after Bursa Securities (Share Investment Tips) lifted the stop on the offer cost. It hit restrain down on Monday and Tuesday.

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