Bursa Alert
Global Market
NewsHot Stocks Plantation shares decline as CPO falls below RM2,000
Page 1 of 1
Hot Stocks Plantation shares decline as CPO falls below RM2,000
by Cals Tue 26 Aug 2014, 09:32
| Hot Stocks Plantation shares decline as CPO falls below RM2,000 |
| Business & Markets 2014 |
| Written by Charlotte Chong of theedgemalaysia.com |
| Monday, 25 August 2014 13:16 KUALA LUMPUR (Aug 25): Plantation counters including Kuala Lumpur Kepong Bhd (KLK), Sime Darby Bhd, and TSH Resources Bhd fell as crude palm oil (CPO) prices declined below RM2,000 a tonne. At 12.30pm, KLK shares fell 54 sen or 2.4% to RM22 while Sime Darby declined one sen or 0.1% to RM9.48. TSH fell 11 sen or 3.3% to RM3.23. Malaysian CPO futures for October 2014 dropped RM29 or 1.5% to RM1,964 a tonne in anticipation of a larger harvest for rival crop soybean. The decline in CPO prices has prompted analysts to downgrade their outlook on the plantation sector. Hong Leong Investment Bank Bhd downgraded the sector to “underweight” from “neutral”, citing its weak demand and price outlook. In a note today, Hong Leong analyst Chye Wen Fei said it was unlikely that CPO prices would achieve the research firm's average price projection of RM2,700 a tonne. Chye has lowered Hong Leong's average CPO price projection in 2014 to RM2,400 a tonne. “Slower-than expected biodiesel implementation in both Malaysia and Indonesia, expected record soybean and corn crops in the USA, will curb soybean oil prices from rebounding extensively,” said Chye. |
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stocks Plantation stocks rise as CPO price rises on possible output decline
» Hot Stocks KLK, GENP lead plantation share decline on weak industry sentiment
» Market Close KLCI falls on plantation shares; ringgit strengthens
» Asian Shares Fall as Japan Stocks Decline on BOJ Policy
» SE Asia Stocks Malaysia leads fall as banking shares decline
» Hot Stocks KLK, GENP lead plantation share decline on weak industry sentiment
» Market Close KLCI falls on plantation shares; ringgit strengthens
» Asian Shares Fall as Japan Stocks Decline on BOJ Policy
» SE Asia Stocks Malaysia leads fall as banking shares decline
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum