Monday 27 February 2017

Volume on Bursa surges at midday, broader market weaker

 Intraday Forex Signals

KUALA LUMPUR: Trading volume on Bursa Malaysia kept on being overwhelming in the morning session of Monday, ascending to 1.82 billion shares however the nature of the purchasing was fairly dreary as the more extensive market again indicated weakeness. 

Supporting the FBM KLCI which empowered it to recover the 1,700 level were Maybank and Axiata Group yet weighing on the list was IHH Healthcare. 

At 12.30pm, the KLCI was up 3.68 focuses or 0.22% to 1,702.03. Turnover rose to 1.80 billion shares esteemed at RM806.43mil. The more extensive market kept on grieving, with decliners beating advancers 505 to 297 and 314 counters unaltered. 

The ringgit debilitated against the US dollar yet solidified against some key monetary standards. It fell 0.07% to 4.4438 to the greenback from 4.4405. It climbed 0.87% to the pound sterling to 5.5233 from 5.5720 and edged up against the Singapore dollar to 3.1624 from 3.1630. It progressed against the Euro to 4.6954 from 4.7021. 

Maybank rose six sen to RM8.66 and added more than one indicate the KLCI yet CIMB and Hong Leong Bank were level at RM5.08 and RM13.60 while Public Bank shed two sen to RM20 and RHB Bank seven sen bring down at RM4.86. 

With respect to telcos, Axiata rose seven sen to RM4.36 and pushed the KLCI up 1.03 focuses, Maxis added three sen to RM6.32, Digi and Telekom were level at RM5.02 and RM6.12. Genting Bhd rose eight sen to RM9.19 and Genting Malaysia two sen to RM5.30 and Tenaga added four sen to RM13.54. 

Unrefined palm oil for third-month conveyance fell RM20 to RM2,786 per ton. In any case, KL Kepong rose 30 sen to RM24.38 and PPB Group added 18 sen to RM16.48, IOI Corp two sen to RM4.71 yet SimeDarby shed one sen to RM9.19. 

US light raw petroleum rose 18 pennies to US$54.17 and Brent added 25 pennies to US$56.24. Petronas Dagangan added 18 sen to RM24.50, Petronas Chemicas four sen higher at RM7.45 yet Petronas Gas fell 10 sen to RM20.44. 

Among the shopper stocks, Dutch Lady and Kawan Foods lost 34 sen each to RM54.34 and RM4.0 and BAT shed two sen to RM49.28. 

Among the budgetary stocks, back up plan Allianz rose 18 sen to RM11.40 as speculators disregarded worries about the Malaysia Competition Commission's (MyCC) proposition to force a money related punishment of a RM213.45mil on each of the 23 general safety net providers in the nation. 

Its backup, Allianz General Insurance Company (Malaysia) Bhd (AGIC), was among the safety net providers – who are individuals from Persatuan Insurans Am Malaysia (PIAM) – affirmed to have encroached one of the disallowances under Part II of the Competition Act 2010 (CA) 

Allianz said its general back up plan AGIC, as one of the individuals from PIAM, will have a share of RM27.48mil of the proposed punishment. 

MAHB rose 15 sen to RM6.50 yet Wesports fell 12 sen to RM3.82. SAM Engineering and Scientex lost 10 sen each to RM5.70 and RM7.30. 

Smolder in analyzer and semicon related KESM rose 16 sen to RM9.79. 

Among the key provincial markets, 

Japan's Nikkei 225 fell 0.58% to 19,171.76; 

Hong Kong's Hang Seng Index rose 0.08% to 23,984.70; 

CSI 300 lost 0.27% to 3,244.71; 

Shanghai's Composite Index fell 0.27% to 3,244.71; 

Hang Seng China Enterprise lost 0.22% to 10,395.93; 

Taiwan's Taiex lost 0.19% to 9,750.47; 

South Korea's Kospi lost 0.24% to 2,089.16 and 

Singapore's Straits Times Index was down 0.42% to 3,103.96. 

Spot gold fell 71 pennies to US$1,256.48.

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