Equity Tips
Equity Tips: KLCI plunges early Friday as Genting and CIMB slip

KUALA LUMPUR: Investors took benefit on Genting Bhd and CIMB Group early Friday and pushed the FBM KLCI (Equity Tips) marginally into the red yet the more extensive market was enduring with concentrate seen now on Lotto Chemicals Titan (LCTitan) once more.

At 9.30am (Equity Tips)

At 9.16am, the KLCI was down 0.86 of a point or 0.05% to 1,782.12. Turnover was 334.55 million offers esteemed at RM81.63mil. There were 185 gainers, 112 failures and 238 counters unaltered.

Asian offers edged up on Friday as financial specialists watched out for another US storm, while the dollar slid after European Central Bank boss Mario Draghi recommended the bank may start decreasing its huge boost program this fall, Reuters revealed.

MSCI’s broadest file of Asia-Pacific offers outside Japan included 0.1%, yet was still down 0.2% for the week. Japan’s Nikkei stock list was influenced by a more grounded yen and slipped 0.5%, losing 2% for the week.

Kenanga Investment Bank Research said in view of the late push of the KLCI on Thursday, the bulls could rule the session towards the end chime in the wake of exchanging range-bound in the vicinity of 1,772 and 1,776 generally of the day.

“In spite of generally impartial readings from pointers, the past two days’ bullish moves mirror an expansion in speculators’ ability to enter the shred.

“Quite, the KLCI is currently amidst testing the 1,783 (R1) resistance level where an unequivocal breakout over this level would be significant to impact finish purchasing-  Equity Tips.

“Once taken out, the following resistance level to target is 1,789 (R2) additionally up. Drawback bolster levels meanwhile stay unaltered at 1,760 (S1) and 1,750 (S2) underneath,” said Kenanga Research.

Bursa Malaysia fell

20 sen to RM10.22, HL Industries 16 sen to RM9.83 and Hartalega 11sen to RM6.79.

MPI lost 10 sen to RM13.76, Genting eight sen to RM6.83 while Texchem and Petronas Dagangan were down six sen each to RM1.09 and RM24.42.

AFG fell 10 sen to RM3.89 and CIMB eight sen bring down at RM6.83.

Sino Huann recaptured footing to climb 2.5 sen to 20.5 sen in dynamic exchange.

KL Kepong rose 22 sen to RM24.84 and PPB Group 18 sen higher at RM16.92 in thin exchange. HLFG added 10 sen to RM17.10, Choo Bee and LC Titan seven sen each to RM2.26 and RM5.42.

CCM Duopharma and Sunway added six sen each to RM2.17 and RM4.46 while Unisem increased five sen to RM4.12.

For live KLSE update, traders/investors could visit www.mmfsolutions.my    

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