KUALA LUMPUR : Tenaga Nasional's record-breaking income in its financial year finished Aug 31, 2016 controlled the FBM KLCI early Friday while key Asian markets were dull.
At 9.32am, the KLCI was up 1.74 focuses or 0.1% to 1,670.77. Turnover was 241.41 million shares esteemed at RM189.61mil. There were 152 gainers, 178 washouts and 235 counters unaltered.
Asian stocks made a curbed begin, with MSCI's broadest record of Asia-Pacific shares outside Japan edging down 0.l%, reflecting Wall Street's unconvincing execution overnight. Australian stocks fell 0.1% while Japan's Nikkei increased 0.6% on a weaker yen, Reuters reported.
In the interim, oil costs plunged at an early stage Friday, weighed around waiting questions about whether OPEC can facilitate an unrefined creation slice sufficiently enormous to get control over oversupply that has persistent markets for a long time.
Universal Brent raw petroleum fates were exchanging at US$50.39 per barrel at 0033 GMT, down eight pennies from their last close. US West Texas Intermediate (WTI) rough was down five pennies at US$49.67 a barrel, Reuters reported.
On the specialized standpoint for the KLCI, Kenang Investment Bank Research said in view of Thursday's execution, the KLCI separated from its key support-turned-resistance level of 1,672 (R1) to return to its combination channel.
"Furthermore, a bearish candle was framed post the development of a "Doji" candle to manage a bearish-predisposition course for the basic list.
"Combined with the down-tick seen in RSI and Stochastic marker, the quick standpoint for the nearby bourse is looking grim with inclination towards the drawback.
"All in, if the FBMKLCI neglects to quickly recover the key 1,672 (R1) level soon, it could hope to end the week on a lower note nearer towards the 1,650 (S1) level. Next levels of resistance and support are situated at 1,680 (R1) and 1,642 (S2), individually," it said.
Tenaga charged 16 sen to RM14.48, likewise supported by its profit. CIMB Equities Research keeps Tenaga Nasional as its top pick for the utilities segment after the solid budgetary execution for FY finished Aug 31, 2016
"FY16 was the most beneficial year for Tenaga, so far as its FY16 center net benefit was 13% higher on-year, at RM7.7bil," said the examination house.
HL Industries added 22 sen to RM9.90, Melati Ehsan surged for the third day, up 20 sen to RM1.21, Country View rose 17 sen to RM1.65 and BSL Corp jumped14.5 sen to 37.4 sen.
In any case, Gadang fell 38 sen to RM2.19 with 12.12 million shares done. Tasek lost 26 sen to RM14.56, Bursa lost 10 sen to RM8.63 and Axiata was down six sen to RM5.01.
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