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Wednesday, 20 July 2016

KLCI Slides at Midday, Ringgit Weaker


KUALA LUMPUR: Blue chips fell more than six focuses at late morning on Wednesday, in accordance with the vast majority of the weaker Asian markets, weighed by misfortunes in Maxis and Sime Darby while the ringgit lost ground against key coinage.

At 12.30pm, the KLCI was down 6.17 focuses or 0.37% to 1,664.38. Turnover was 938.16 million shares esteemed at RM561.34mil. There were 302 gainers, 349 failures and 355 counters unaltered.

The ringgit set out toward its greatest three-day misfortune in over two months and stocks fell as hankering for developing business sector resources melted away after the International Monetary Fund cut its reality development figure, Blomberg reported.

The ringgit debilitated against the US dollar to 4.0203 from 4.0113 the earlier day while it likewise fell against the Singapore dollar to 2.9674 from 2.9592 and slipped against the Euro to 4.4284 from 4.4269.

In any case, the pound sterling debilitated 0.25% against the ringgit. The ringgit was at 5.2622 to the pound from 5.2765.

Rough palm oil for third-month conveyance rose RM12 to RM2,315 per ton. With respect to estates, PPB Group fell 34 sen to RM16.26 after a benefit cautioning from its partner Wilmar. Sime Darby lost eight sen to RM7.56, IOI Corp fell seven sen to RM4.28 and KL Kepong four sen to RM23.210 yet Batu Kawan rose 14 sen to RM17.96.

Maxis fell 10 sen to RM6.11 and deleted 1.23 focuses from the KLCI. Axiata fell four sen to RM5.71, Telekom lost one sen to RM6.79 and Digi was level at RM4.90.

Oil fates ascended in Asian exchanging on Wednesday yet picks up were restricted and U.S. rough exchanged sideways ahead of time of the arrival of authority week after week stock figures later in the day. Brent rough was up 13 pennies at US$44.78 and US light unrefined up 17 pennies at US$46.83.

Petronas Gas fell 10 sen to RM22.18, Petronas Dagangan six sen to RM23.54 yet Petronas Chemicals rose one sen to RM6.51. SapuraKencana lost two sen to RM1.42.

Buyer stocks were blended with BAT down 70 sen to RM54.30, Nestle 68 sen to RM79.32 yet Heineken rose 48 sen to RM17.98, Carlsberg added 12 sen to RM15.02 and F&N 10 sen to RM26.20.

CMSB rose 17 sen to RM3.78 as it as the cutting edge to earn contracts from the Pan Borneo Highway venture. Genting Bhd picked up 10 sen to RM9 while Genting Malaysia fell five sen to RM4.45. Tenaga lost two sen to RM14.28.

With respect to banks, Maybank fell four sen to RM8.12, RHB Bank three sen to RM5.11, CIMB and AmBank shed one sen each to RM4.27 and RM4.32, Public Bank and Hong Leong Bank were level at RM19.54 and RM13.36.

Among the key local markets, 

Japan's Nikkei 225 fell 0.67% to 16,611.79; 

Hong Kong's Hang Seng Index rose 0.76% to 21,838.67; 

CSI 300 shed 0.01% to 3,247.90; 

Shanghai's Composite Index lost 0.02% to 3,035.87; 

Shenzhen Composite rose 0.42% to 2,042.90; 

Hang Seng China Enterprise added 0.5% to 9,034.08; 

Taiwan's Taiex fell 0.52% to 8,987.74; 

South Korea's Kospi fell 0.17% to 2,013.56 and 

Singapore's Straits Times Index increased 0.78% to 2,942.29. 

Spot gold rose US$1.71 to US$1,333.72.

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