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Monday, 25 July 2016

Firm start to the week for KLCI but ringgit down
KUALA LUMPUR: Blue chips climbed early Monday as the FBM KLCI included more than five focuses, supported by additions in Public Bank, Petronas Dagangan and PPB Group however the ringgit kept on losing ground.

At 10am, the FBM KLCI was up 5.07 focuses or 0.31% to 1,662.49. Turnover was 379.89 million shares esteemed at RM178.73mil. There were 228 gainers, 156 failures and 266 counters unaltered.

The ringgit declined for a 6th day in its longest extend of misfortunes since November on hypothesis the Federal Reserve will plan markets for a loan cost increment at the current week's meeting, Bloomberg reported.

Progressing tests by US and Singapore powers into the assets of 1Malaysia Development Bhd likewise weighed on the ringgit, as per Commonwealth Bank of Australia. The cash posted its greatest five-day misfortune since September a week ago as the 1MDB burdens added to a drop in assumption as oil costs declined.

Unrefined costs crept down on Monday in Asia, staying not a long way from two-month lows hit in the past session, in the midst of stresses over a worldwide oil excess. Brent unrefined for September conveyance was down four pennies at US$45.65 a barrel while US light rough for September conveyance fell five pennies to US$44.14 a barrel, Reuters reported.

At Bursa, FGV was in center, increasing six sen to RM1.84 in dynamic exchange on developing uplifting viewpoint for the ranches mammoth and a news report it had surrendered arrangements to purchase Indonesia's PT Eagle High Plantations Tbk.

PPB Group, which went under offering weight a week ago after a benefit cautioning from its Singapore recorded partner, Wilmar, rose 14 sen to RM15.98.

Customer stocks were among the main 10 gainers, with BAT up 92 sen to RM55.42, F&N 20 sen to RM26.22, Carlsberg 16 sen to RM14.90 and Dutch Lady 10 sen to RM62.10. Poultry organization Lay Hong rose eight sen to RM8.90.

Petronas Dagangan added 24 sen to RM23.80 however with only 100 shares done. Publc Bank increased eight sen to RM19.38.

In any case, Ajiya fell 26 sen to RM3.87 after a sharp fall in its outcomes.

Hong Leong Industries lost nine sen to RM8.70, Uzma four sen to RM1.85 and Pavillion REIT four sen to RM1.80. Pestech shed four sen to RM6.60.

Hot Stocks for today:
  1. FGV
  3. AWC 
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