Tuesday, 22 November 2016

Bursa Malaysia opens higher on stronger oil prices

 Commodity Advisory

KUALA LUMPUR: Bursa Malaysia began today's exchanging higher because of more grounded oil costs, which activated positive opinion in the market. At 9.03am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained at 1,628.3 focuses, up 1.02 focuses, from yesterday's end of 1,627.28. The file opened 0.87 point higher at 1,628.15. Showcase expansiveness was certain as gainers drove washouts 101 to 67, with 106 counters unaltered, 1,450 untraded and 24 others suspended.

Turnover remained at 64.39 million shares worth RM22.3 million. A merchant noticed that oil costs, with worldwide benchmark Brent Crude Oil rising 4.17% to US$48.90 per barrel and WTI Crude Oil going up 3.79% to US$47.49, joined with the overnight pick up by most worldwide value markets, had affected the nearby bourse.

The Organization of the Petroleum Exporting Countries (OPEC) reported advance on the primary day of a two-day meeting, which could conceivably prompt to a yield solidify. The meeting is relied upon to resume today to promote examine the oil costs circumstance.

Among heavyweights on Bursa, TNB added eight sen to RM14.18, Petronas Chemicals rose three sen to RM6.90, Kuala Lumpur Kepong picked up 22 sen to RM23.96 and YTL crawled up two sen to RM1.52. Of the actives, Naim Indah climbed 1.5 sen to 9.5 sen and Hibiscus Petroleum went up significantly a-sen to 29 sen while Vivocom and Globaltec were level at 17.5 sen and five sen separately.

Among gainers, BIMB, RHB Bank, Thong Guan and Protasco were all up four sen to RM4.30, RM4.62, RM4.24 and RM1.27 separately while Triplc fortified eight sen to RM1.79. The FBM Emas Index grew 3.23 focuses to 11,470.33, the FBMT100 Index was 2.57 focuses higher at 11,178.69, the FBM Emas Syariah Index extended 0.14 indicate 12,074.30 and the FBM Ace enhanced 12.02 focuses to 5,026.79.

Be that as it may, the FBM 70 fell 13.18 focuses to 13,322.01. Area shrewd, the Plantation Index was 12.66 focuses bring down at 7,748.05, the Finance Index declined 1.13 focuses to 14,193.31 and the Industrial Index dropped 5.09 focuses to 3,066.21. The physical cost of gold as at 9.30am remained at RM167.35 per gram, up 27 sen from RM167.08 at 5pm yesterday.

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