Wednesday , July 6 2022

Bursa Malaysia loses early profits while US democrats win the lower chamber – Business Nevs


KUALA LUMPUR: Asian markets have convinced most of their earlier winnings on Wednesday, as the Democrats have emerged as they advance in the US mid-term elections.

Reports state that Democrats took control of the American House of Republicans ready for business, while this other took control of the Senate. Observers say the more powerful opposition in Washington will be bothered by the efforts of US President Donald Trump to impose more tax reliefs, which would help the Wall Street rush.

At 12.30, FBI KLCI increased by 3.14 points to 1,711.94. There were 1.5 billion shares traded in the value of RM1.3bn. Attorneys went to falls from 374 to 318, while 317 counters remained unchanged.

Among the lecturers, Genting Malaysia experienced almost 16 sessions to RM3.77 in the morning trade. However, the gain was triggered by Monday's entry, and the number ended five sen higher in RM3.65.

The related counter Genting also increased by nine hay to RM6.83.

Other winners included TNB, rose eight hay to RM14.88 and Akiata, receiving five hay to RM3.53

Maibank refunds some of the morning winnings to KLCI with a fall of 15 holes to RM9.23. This was accompanied by a slight drop of Mackis, slipping six hay to RM5.33, and Digi, dipping a hay to RM4.27.

Top active counters included Sapura Energi , growing 2.5 sen at 38 sen on the proposed issue of RM4b rights.

Datasonic also saw active trade, gaining 2.5 senks to 47.5 holes, while Prestarian fell four hay to 72.5 hay.

Oil prices were moderate on Wednesday as rising production and waivers from US sanctions that allow Iran's largest buyers to keep their raw repacking strengthened the look for a well-supplied market, reports Reuters.

Oil VTI dropped 32 cents to $ 61.89 a barrel, while Brent crude fell 15 cents to $ 71.98 a barrel.

In currencies, ringgit rose by 0.25% against US dollar 4.1665. It slipped 0.2% against the British pound to 5.4717 and was slightly stronger than the Singapore dollar at 3.0386.

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