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Plantation stocks lead rally amid Indonesia's palm oil ban
2022-04-28 00:00:00.0     星报-商业     原网页

       

       KUALA LUMPUR: The domestic market rallied on Thursday amid a strong comeback in equities prices and as plantation counters jumped on the Indonesian palm oil export ban.

       At 9.05am, the FBM KLCI was up 6.55 points to 1,592.53 while the overall market recoded 203 gainers to 94 decliners.

       Leading the advance was plantation stocks including Kuala Lumpur Kepong up 40 sen to RM29.20, IOI rising eight sen to RM4.67 and Sime Darby Plantation climbing five sen to RM5.25.

       Among the lower liners, Genting Plantation gained 15 sen to RM9.40, Hap Seng Plantations gained 10 sen to RM3.30.

       Overnight, Indonesia surprised markets by widening its palm oil export ban to include crude and refined palm oil, which is expected to widen the existing supply gap.

       Meanwhile, brewers were seen on the rise ahead of corporate earnings results as Carlsberg jumped 38 sen to RM22.12 and Heineken Malaysia added 26 sen to RM23.76.

       MAHB climbed 16 sen to RM6.85 in anticipation of normalisation in the air travel market while oil and gas-related stocks also gained ground.

       Petron Malaysia added 12 sen to RM5.10 while Hengyuan Refining rose 12 sen to RM4.93.

       


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关键词: market     plantation stocks     gained     jumped     KUALA LUMPUR    
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