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FBM KLCI retreats on New Year

KUALA LUMPUR: Bursa Malaysia begins the new year lower, withdrawing from 2017's upward energy, hosed by benefit taking in bluechips and chose heavyweights, merchants said. 

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained at 1,782.11, down 14.7 focuses, from Friday's end of 1,796.81. 

The key record opened 13.71 Focuses weaker at 1,783.1. 

Misfortunes in Sime Darby dragged the composite record around 5.828 focuses, trailed by Digi (2.776 focuses), Maybank (2.503 focuses), and KLCC Property and REITs (2.192 focuses). 

Sime Darby contracted 48 sen to RM5.52, Digi lost 20 sen to RM4.90, Maybank down 13 sen to RM9.67 while KLCC Property and REITs fell 68 sen to RM7.96. 

Maybank IB Research anticipates that the Fbm Klci will exchange in the vicinity of 1,780 and 1,800-level today with the drawback bolsters at 1,770 and 1,752. 

The examination house said there is a high plausibility that the benchmark may arrange a pullback in the early piece of 2018 as benefit taking surfaces. 

"In any case, with the ringgit and oil value keep on staying solid, the nearby securities exchange ought to have the capacity to retain the offering weight," it said in a note today. 

The FBM KLCI completed 2017 at a year high of 1,796.81 on Dec 29, up 155.08 focuses, or 9.45 for each penny, from 1,641.73 at end-2016. 

The opening session today observed gainers marginally dwarfed washouts by 134 to 126, while 182 counters were unaltered, 1,368 untraded and 19 others suspended. 

Turnover remained at 116.76 million offers worth RM61.04 million. 

Among heavyweights, Tenaga trimmed four sen to RM15.22 and Public Bank facilitated two sen to RM20.76. 

CIMB, in any case, rose one sen to RM6.55, while Petronas Chemicals was unaltered at RM7.70. 

Of the actives, Sino Hua-An increased four sen to 43 sen, Diversified Gateway added one sen to 14 sen however Sapura slipped one sen to 70 sen. 

On the scoreboard, the FBM Emas Index surrendered 119.25 focuses for 12,823.32, the FBMT 100 Index fell 122.43 focuses to 12,491.77, the FBM Emas Shariah Index eradicated 134.02 focuses to 13,168.9 and the FBM 70 dropped 220.81 focuses to 15,864.73. 

In any case, the FBM Ace livened 41.53 focuses to 6,645.08. 

Part insightful, the Finance Index declined 51.74 focuses to 16,809.64, the Industrial Index facilitated 8.14 focuses to 3,272.56, while the Plantation Index was unaltered at 7,903.37.

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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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FBM KLCI retreats on New Year


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