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Banks, IHH drag KLCI into the red early afternoon

Stores ventured up offering weight on banks, IHH Healthcare and Genting Bhd while the ringgit debilitated against chose significant monetary forms while the more extensive business sector was powerless on worries about residential issues.

At noontime, the KLCI was down 7.02 focuses or 0.42% to 1,662.59. Turnover was 918.32 million shares esteemed at RM574.44mil. Decliners beat advancers three to one, with 511 washouts to 157 gainers while 317 counters were unaltered.

The ringgit debilitated against the key monetary standards as it slipped to 4.0568 against the US dollar from 4.0297 and was weaker at 5.3677 to the pound sterling from 5.3020. It was at 2.9885 to the Singapore dollar from 2.9666 and slipped to 4.4745 against the euro from 4.4335.

Among the banks and back stocks, HLFG fell the most, down 22 sen to RM15.44 on benefit taking while Hong Leong Bank was down 14 sen to RM13.26. Maybank fell six sen to RM8.06 and deleted almost one point from the KLCI, Public Bank shed two sen to RM19.54 and CIMB was level at RM4.24.

UMW was down 14 sen to RM5.62 and Genting was down 11 sen to RM8.92. IHH Healthcare fell 10 sen to RM6.50 and wqiped out 1.35 focuses from the KLCI.

Unrefined palm oil for third-month conveyance rose RM9 to RM2,356 per ton. Concerning estates, Genting Plantations fell the most, down 20 sen to RM10.50, PPB Group was down 18 sen to RM16.08 – its second day of misfortunes after its partner Wilmar cautioned about misfortunes in the second quarter finished June 30. Sime Darby saw five sen deleted from its offer cost.

US light unrefined petroleum rose 15 pennies to US$45.90 and Brent picked up 18 pennies to US$47.35. Petronas Gas fell six sen to RM2.22, Petronas Chemicals two sen to RM6.61 and Petronas Dagangan was level at RM23.50.

Dancomech finished the morning at 80 sen, a premium of five sen to its offer cost of 75 sen in dynamic exchange.

Among the customer stocks, BAT added 56 sen to RM55.06, F&N rose 18 sen to RM26.26 while Dutch Lady was up 10 sen to RM61.80. Settle fell 30 sen to RM79.60.

Panasonic Malaysia recaptured its bob, up 20 sen to RM34.50 while CCB edge dup nine sen to RM3.25.

SAM Engineering bounced back , up 21 sen to RM7.83 while PIE and MPI rose nine sen each to RM2.28 and RM7.89.

Among the key local markets,

Japan's Nikkei 225 rose 0.66% to 16,792.15;

Hong Kong's Hang Seng Index rose 0.71% to 22,037.43;

CSI 300 increased 0.89% to 3,266.30;

Shanghai's Composite Index added 0.69% to 3,048.75;

Shenzhen Composite rose 0.68% to 2,049.60;

Hang Seng China Enterprise added 0.64% to 9,080.52;

Taiwan's Taiex rose 0.55% to 9,057.67,

South Korea's Kospi fell 0.16% to 2,012.16 and

Singapore's Straits Times Index shed 0.16% to 2,940.93.

Spot gold fell US$1.23 to US$1,314.82.
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