KUALA LUMPUR (Aug 11): MISC Bhd fell after rising as much as 25 sen or 3% in anticipation that the shipping company will benefit from a weaker ringgit against the US dollar.

MISC (fundamental: 1.2; valuation: 0.8) rose to an intraday high of RM8.25 before dropping to RM7.99 at 3.45pm with 2.67 million shares traded.

"MISC is poised to benefit from higher USD/MYR rate as all charter rates are quoted in US dollar," MIDF Amanah Investment Bank Bhd wrote in a note.

MISC shares had bucked the broader market decline. At 4.27pm, the FBM KLCI fell 16.64 points or 1% to 1,637.73. The ringgit weakened to 3.9815 against the US dollar after China devalued its currency.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)