KUALA LUMPUR: Blue chips picked up force early Monday as Petronas stocks, manors and banks pushed the FBM KLCI convincingly over the key 1,700 level again with more upside seen. – stock signals
At 9.02am, the KLCI was up 2.66 focuses or 0.16% to 1,701.60. Turnover was 113.59 million shares esteemed at RM30.65mil. There were 167 gainers, 49 washouts and 195 counters unaltered. – stock signals
Hong Leong Investment Banks (HLIB) Research with the managed purchasing enthusiasm for the abroad securities exchanges, the Dow Jones Industrial Average may slant higher towards the 20,300-20,400 levels with foresight that Donald Trump would present new monetary approaches over the close term.
“As the exchanging interest surged emphatically on Friday with a crevice up development, we can anticipate that benefit taking exercises will set in this week for the record heavyweights. By and by, exchanging interest may center inside the O&G stocks in the midst of a recuperation in Brent oil costs,” it said. – stock signals
Oil costs plunged on Monday on signs that worldwide fuel markets remained bloated in spite of OPEC-drove unrefined generation cuts that have been more fruitful than most at first expected, Reuters announced. – stock signals
Brent rough fates were exchanging at US$56.55 per barrel at 0035 GMT, down 15 pennies from their past close. West Texas Intermediate (WTI) unrefined fates were down 12 pennies at US$53.74 a barrel.
At Bursa, Petronas Dagangan added 18 sen to RM24.22 and Petronas Gas added 10 sen to RM20.58.
With respect to ranches, KL kepong rose 22 sen to RM25.30, PPB Group 10 sen to RM16.50, Sime Darby six sen to RM9.05 while Batu Kawan increased four sen to RM19.78.
Among banks, Public Bank rose 14 sen to RM20.24 and CIMB six sen higher to RM5.14.
MISC fell 10 sen to RM7.50 on desires of harder circumstances ahead in FFY17, Genting Bhd was down eight sen to RM8.60 while UMW and Telekom shed three sen each to RM5.45 and RM6.11.
Our recommendation for KLSE investors
KLSE INTRADAY SIGNALS: BUY THETA AT 0.365 TARGET 0.380, 0.395 SL 0.345
Our recommendation for SGX investors
- ALLIANCE MINERALS
- HOCK LIAN SENG
- HONG LEONG ASIA