KUALA LUMPUR: Blue chips Fell more than six focuses early Thursday, following the decreases in key Asian markets while raw petroleum fell beneath the key US$50 barrel.
Penny oil and gas related stock Sumatec fell in dynamic exchange after it Miri-based partner Semado Maritime Sdn Bhd defaulted on the reimbursement of RM165.21mil to Bank Pembangunan Malaysia Bhd.
At 10.03am, the KLCI was down 6.07 focuses or 0.36% to 1,667.85. Turnover was 443.41 million shares esteemed at RM168.10mil. There were 182 gainers, 247 washouts and 284 counters unaltered.
Asian shares edged down on Thursday subsequent to baffling profit from innovation monster Apple delayed Wall Street, while the dollar stayed short of the current week's almost nine-month highs, Reuters reported.
Kenanga Investment Bank Research said the quick resistance levels for the KLCI were 1,680 (R1), in spite of the fact that a punch-through could flag promote picks up towards 1,700 (R2). On the other hand, drawback bolster levels are 1,672 (S1) and 1,650 (S2).
To recap, it said key local markets finished lower Wednesday, following the weaker execution of US values. The KLCI completed down 3.51pts or 0.21% at 1,673.92. Advertise broadness was weaker with failures dwarfing gainers by 496 to 285, and 384 counters exchanged unaltered.
"From an outlining viewpoint, the KLCI exchanged inside a tight five focuses run for the duration of the day preceding completing with a "Doji" candle. This combined with the lower exchanging volume, proposes hesitation in market bearing and echoes the more extensive directionless pattern of the file," said Kenanga Research.
Oil costs were beneath US$50 per barrel on Thursday on questions OPEC will have the capacity to unite its individuals and Russia to sort out an organized rough generation cut, Reuters said.
Brent raw petroleum prospects made a push above US$50 per barrel at an early stage Thursday, however had plunged back to US$49.91 by 0034 GMT, 7 pennies underneath their last shutting cost. WTI fates were exchanging at US$49.17 per barrel, down one penny from their past settlement.
At Bursa Malaysia, Sumatec fell 1.5 sen to 6.5 sen with 61.48 million shares done while its warrants WB lost one sen to 2.5 sen.
F&N fell the most, down 20 sen to RM24.28 with 1,300 shares done. Heineken lost 10 sen to RM17.04. In any case, Dutch Lady picked up 36 sen to RM59.46 and BAT rose 20 sen to RM48.22 while Nestle picked up 10 sen to RM78.50.
MPI fell 10 sen to RM7.90, Perstima and KLCI shed nine sen each to RM6.36 and RM7.71 and Nylex slid 7.5 sen to 65 sen.
Hong Leong Industries added 28 sen to RM9.40, Melati Ehsan surged 24.5 sen to 96 sen while Teck Guan climbed 11 sen to RM2.20.
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