Monday, October 25, 2010

Plantation stocks advance on Bursa Malaysia

KUALA LUMPUR: PLANTATION [] stocks were among the major gainers on Bursa Malaysia on Monday, Oct 25 as crude palm oil futures rose.

At 12.30pm, the FBM KLCI was up 1.884 points to 1,492.48. Gainers led losers by 397 to 261, while 288 counters traded unchanged. Volume was 556.07 million shares valued at RM593.09 million.

Crude palm oil futures for the third month delivery rose RM65 per tonne to RM3,070; crude oil added 82 US cents per barrel to US$82.51 (RM255.78); gold jumped US$10.40 an ounce to US$1,338.85 while the ringgit strengthened 0.63% to 3.0950 versus the US dollar.

KL Kepong was the top gainer Monday morning and was up 44 sen to RM18.94. Boustead and Kulim added 29 sen each to RM5.95 and RM9.81 respectively, TSH and Bursa rose 26 sen each to RM2.65 and RM8.50 respectively, Batu Kawan added 22 sen to RM15.52, United Plantations gained 20 sen to RM16.60, QSR rose 17 sen to RM5.38, Southern Acids up 15 sen to RM2.85 while Genting Plantations rose 14 sen to RM8.58.

Among the decliners, Nestle fell 20 sen to RM44, Far East Corp and Shell lost 10 sen each to RM6.70 and RM10.60 respectively, Nagamas, Tan Chong, DFZ Capital and Genting fell eight sen each to 22 sen, RM5.60, RM3.54 and RM10/42 respectively, while Quality Concrete and Daibochi fell seven sen each to RM1.53 and RM2.90 respectively.

Karambunai was the most actively traded stock with 51.9 million shares done. The counter added half a sen to 24.5 sen. Other actives included Ho Wah Genting, Malton. SIG Gases, Gaya, Insas and PLUS.

At the regional markets, the Shanghai Composite Index jumped 1.31% to 3,014.03, Hong Kong's Hang Seng added 1.10% to 23,775.08, Taiwan's Taiex jumped 1.46% to 8,287.47, the South Korean Kospi rose 1.04% to 1,917.01, the Singapore Straits Times Index added 0.68% to 3,195.21 and Japan's Nikkei 225 was up 0.04% to 9,430.93.


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