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Friday, 8 July 2016

Blue chips fall early Friday as Petronas Gas, KLK and AFG slip

KLCI Market Updates 
KUALA LUMPUR: Blue chips fell in early Friday exchange, drove by decreases in Petronas Gas, KL Kepong and AFG while the more extensive business sector was blended in dull exchange.

At 9.22am, the KLCI was down 1.37 focuses or 0.08% to 1,649.34. Turnover was 154.91 million shares esteemed at RM85.05mil. There were 101 gainers, 114 failures and 160 counters unaltered.

Asian shares were unfaltering in early Friday exchange as financial specialists prop for US occupations information to check whether the world's No. 1 economy is sufficiently flexible to climate the aftermath from the Brexit vote, Reuters reported.

MSCI's broadest record of Asia-Pacific shares outside Japan were down 0.1% while Japan's Nikkei was up 0.5%.

Oil costs bounced back in early exchanging on Friday, skipping off two-month lows hit in the past session when costs fell 5% on news that the US week by week unrefined draw missed a few gauges.

Brent unrefined petroleum fates were exchanging at $46.95 per barrel at 0027 GMT on Friday, up 55 pennies, or 1.19%, from their last settlement. US West Texas Intermediate (WTI) rough was up 43 pennies, or 0.95%, at US$45.57 a barrel, said Reuters.

In the interim, Maybank Investment Bank Research suggested a "snack on plunges" methodology for Friday

It called attention to the July 2016 prospects was at a substantial 4.29-point premium against the FBM KLCI.

"We trust backings of 1,630 to 1,647 might be ranges to purchase, while benefit taking exercises will top bounce back at the resistances of 1,650 and 1,684.

"The FBM KLCI tumbled from the 1,729.13 high, however has found a brief floor at 1,611.88 (June 24, 2016). A firm record tone may win today for the present after the Hari Raya occasions on June 6 and 7," it included.

At Bursa Malaysia, Petronas Gas fell 16 sen to RM22.50 with only 100 shares done, KL Kepong lost 12 sen to RM23.10 while Bursa lost seven sen to RM8.60 and AFG was down six sen to RM4.03.

Notwithstanding, finance purchasing lifted F&N which bounced 48 sen to another high of RM26.48 with 5,500 shares done. Carlsberg picked up 10 sen to RM13.82 and BAT 10 sen higher additionally at RM54.28.

Hong Leong Industries picked up 17 sen to RM8.20 and Unisem 11 sen to RM2.57.

AirAsia X fell one sen to 38 sen and the warrants 0.5 sen lower at 25 sen. Additionally down one sen to RM2.56 in dynamic exchange.

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