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Monday, 4 July 2016

KLCI climbs early Monday, crude oil prices up

 Multi Management & Future Solutions
Multi Management & Future Solutions 

KUALA LUMPUR: Blue chips progressed early Monday in slim exchange supported by the ascent in raw petroleum costs however examiners anticipate that the FBM KLCI will merge its late picks up in the occasion abbreviated week.

At 9.28am, the KLCI was up 3.71 focuses or 0.23% to 1,649.93. Turnover was 116.88 million shares esteemed at RM58.05mil. There were 120 gainers, 125 washouts and 179 counters unaltered.

Reuters reported Asian offer markets stepped back on Monday, while the Australian dollar dropped after no unmistakable champ rose up out of a weekend race. MSCI's broadest list of Asia-Pacific shares outside Japan was down 0.2% in early exchanging, while Japan's Nikkei stock file was down 0.6%. Australian shares dropped 0.2%.

Hong Leong Investment Bank (HLIB) Research said in a the occasion abbreviated week, it anticipated that the KLCI would unite its late picks up in the midst of dull tradings.

"Key week by week underpins for the FBM KLCI are 1,612 to 1,635 while resistances are 1,650 to 1,655. In general, despite everything we anticipate that worldwide markets will stay unpredictable in the close term as financial specialists think about Brexit domino sway, iron deficient worldwide monetary development, rising terrorism dangers and potential EU separation," said the examination house.

Bloomberg said Brent for September settlement rose 33 pennies to US$50.68 a barrel while US West Texas Intermediate for August conveyance ascended as much as 24 pennies to US$49.23.

At Bursa Malaysia, buyer stocks were for the most part higher in meager exchange. Dutch Lady added 50 sen to RM58.98, F&N and BAT 28 sen to RM25.48 and RM52.78 and Carlsberg picked up 14 sen to RM13.40. Be that as it may, Heineken fell 22 sen to RM15.24.

MPI rose 19 sen to RM7.55, Ajiya picked up 10 sen to RM3.89, Eon Credit and HLFG rose eight sen each to RM13.12 and RM15.08 while KL Kepong edged up six sen to RM13.24.

Magni-Tech fell nine sen to RM3.85 and Lii Hen lost seven sen to RM3 and AFG shed six sen to RM4.01.

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