Tuesday, 23 August 2016

KLCI slips 3pt as ringgit weakens and crude oil drops


Blue chips finished lower at the noontime break on Tuesday taking after the negative news from the debilitating ringgit and fall in unrefined petroleum costs while the more extensive business sector debilitated.

At 12.30pm, the KLCI was down 3.07 focuses or 0.18% to 1,688. Turnover was 906.30 million shares esteemed at RM613.99mil. There were 232 gainers, 458 failures and 344 counters unaltered.

The ringgit debilitated against the real monetary standards, tumbling to 4.0290 against the US dollar from 4.0280 and debilitated to 5.2947 versus the pound sterling from 5.2896. It was down 2.9840 against the Singapore dollar from 2.9813 and fell against the Euro to 4.5645 from 4.5524.

Oil costs fell more than 1% on Tuesday, with Goldman Sachs cautioning that August's value rally had been exaggerated and that a proposed oil creation solidify at current close record levels would not get control over an oversupplied market.

US light raw petroleum fell 62 pennies to US$46.79 and Brent lost 50 pennies to US$48.66. Petronas Chemicals, Petronas Dagangan and Petronas Gas fell two sen each to RM6.66, RM23.38 and RM22.16 while SK Petro additionally shed two sen to RM1.58.

Rough palm oil for third-month conveyance rose RM18 to RM2,561 per ton. KL Kepong added eight sen to RM23.62, Sime Darby two sen higher at RM8.16 while IOI Corp and PPB Group were level at RM4.44 and RM16.06.

Carlsberg fell 18 sen to RM15.02 and it was the greatest decliner among the buyer stocks while F&N was down 10 sen to RM24.40. Be that as it may, Dutch Lady rose 96 sen to RM60.96, Nestle added 74 sen to RM79.50, BAT 20 sen to RM50.58 and Heineken 14 sen higher at RM18.68.

Among the banks. AmBank rose four sen to RM4.46, RHB Bank was level at RM5, Maybank shed one sen to RM6.29 while CIMB and Public Bank fell four sen to RM4.66 and RM19.76.

With respect to telcos, Axiata fell five sen to RM5.73, Digi one sen lower at RM5 and Telekom was level at RM6.81 however Maxis increased two sen to RM6.29.

AirAsia X lost one sen to 46 sen with 89.4 million shares done, its call warrants CU added 0.05 sen to 11.5 sen and shed 0.05 sen to 13.5 sen.

Peak Health went under some benefit taking, sliding 26 sen to RM4 with 1,300 shares done. Poultry organization Lay Hong shed 10 sen to RM10.

Among the key local markets,

Japan's Nikkei 225 rose 0.04% to 16,604.86;

Hong Kong's Hang Seng Index fell 0.32% to 22,924.50;

CSI 300 rose 0.31% to 3,347.08;

Shanghai's Composite Index rose 0.22% to 3,091.50;

Shenzhen Composite added 0.33% to 2,025.32;

Hang Seng China Enterprise fell 0.22% to 9,581.66;

Taiwan's Taiex rose 0.6% to 9,035.48;

South Korea's Kospi added 0.28% to 2,047.93 and

Singapore's Straits Times Index shed 0.06% to 2,839.38.

Spot gold fell US$2.12 to US$1,336.97.


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