Plantations led the FBM KLCI’s rebound on Thursday after recent weeks of selling pressure following weaker crude palm oil (CPO) prices while there was also some fund nibbling of Genting Malaysia and Maxis. At 5pm, the KLCI was up 5.41 points or 0.3% to 1,829.73 in line with the firmer key Asian markets. Turnover was 1.81 billion shares valued at RM1.85bil. Advancers beat decliners nearly two to one with 609 counters up and 229 losers while 266 were unchanged. Reuters reported world stock markets roared their approval on Thursday of reassurances the US Federal Reserve will not rush into raising interest rates, with risk appetite flooding back into almost every asset class. Crude palm oil for third-month delivery fell RM4 to RM2,191 but despite that market sentiment for plantations were somewhat firm.
Posted on: Thu, 09 Oct 2014 10:27:14 +0000
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