KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) fell in dynamic exchange early Wednesday while the FBM KLCI slipped after the powerless corporate results. At 9.32am, the KLCI was down 1.64 focuses or 0.1% to 1,627.68. Turnover was 289.25 million shares esteemed at RM156mil. There were 129 gainers, 223 washouts and 189n counters unaltered.
Hong Leong Investment Bank (HLIB) Research said the KLCI's auctioning spree has decreased and the record is endeavoring to construct a base above late three-month low of 1,614 at Nov 14, in spite of facilitating Ringgit (versus US$), as specialized are step by step recuperating. "Notwithstanding, we emphasize that lone a solid close over 1,631 (10-day basic moving normal) and 1,640 zones will open up further picks up toward 1,650-1,667 levels. On the other side, a break underneath 1,614 will witness a potential offer down to the 1,600 mental support.
"We see upside predisposition for KLCI in expectation of year-end window dressing exercises. All things considered, close term assumption will stay mindful as financial specialists concentrate on the continuous testing 3Q16 reporting season, short and long haul ramifications of a Trump administration and Ringgit instability (- 3% year-to-date predominantly determined by loosening up of US$ convey exchanges)," it said.
FGV fell 11 sen to RM1.58 with 27.2 million shares done while FGV call warrants, C12 lost 4.5 sen to 17.5 sen and C16 shed slid one sen to 5.5 sen. FGV's net misfortunes for the nine months and second from last quarter finished Sept 30, 2016 will see the manors bunch report net misfortunes for the budgetary year finishing Dec 31, 2016, says CIMB Equities Research.
DKSH fell the most, down 50 sen to RM5.65. BAT fell 40 sen to RM44.60 while F&N was down 20 sen to RM23.38 in thin exchange. Kossan fell 18 sen to RM6.71. CIMB Research is holding its Hold approach Kossan Rubber Industries because of the weaker income brought on by stiffer evaluating rivalry, higher working expenses and lower creation yield because of continuous redo.
Yen Global and WTK fell seven sen each to RM1.03 and RM1.01. AirAsia X was level at 40 sen in dynamic exchange. On a more positive note, Petronas Dagangan propelled 14 sen to RM23.60 and Petronas Gas six sen higher at RM21.56.
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