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Bursa Malaysia staged a relief rally on Thursday


KUALA LUMPUR: Bursa Malaysia arranged a help rally on Thursday, supported by increases in CIMB and Tenaga Nasional, in accordance with key Asian markets after the firmer overnight close on Wall Street. 

At 9.11am, the KLCI was up 11.22 focuses or 0.65% to 1,728.58. Turnover was 249.82 million shares esteemed at RM131.63mil. There were 306 gainers, 67 failures and 206 counters unaltered. 

Hong Leong Investment Bank (HLIB) Research said as the Fed's turn was broadly expected, securities exchanges responded on a positive note. Likewise, Janet Yellen kept up with potential two more climbs in 2017 with the view that the economy is recouping on a sound pace, in accordance with Fed's goals, it said. 

"Purchasing premium may overflow towards Malaysia's securities exchange after an alleviation rally in Wall Street, combined with higher oil costs. The KLCI may recapture quality over 1,720 and conceivably returning to the 1,730 level," it said. 

Remote assets were net purchasers on Wednesday at RM66mil while retail financial specialists likewise net purchasers yet on a littler size of RM8.1mil. Neighborhood foundations were net venders at –RM74.1mil, as indicated by money markets information. 

Among the KLCI stocks, BAT was the top gainer, bouncing RM1.08 to RM47.68,Tenaga 10 Sen Higher at RM13.78, UMW and CIMB nine sen up to RM6.22 and RM5.45. 

Petronas Dagangan rebounder, up 12 sen to RM23.62 and Petron additionally 12 sen higher at RFM5.94. 

IQ Group bounced 16 sen to RM3.30 and Lafarge nine sen higher at RM6.54. 

Digistar slipped 0.5 sen to 19.5 sen with 4.44 million shares done, IOI Properties increased two sen to RM1.92. 

Among the manors, PPB Group added 14 sen to RM16.88 however KL Kepong slipped 12 sen to RM24.38 in thin exchange while United Plantations lost six sen to RM27.94.

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This post first appeared on Bursa Malaysian Intraday Stock Picks | KLSE Trading Signals | Intraday Recommendation, please read the originial post: here

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Bursa Malaysia staged a relief rally on Thursday

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