Asian markets up midday, CPO recovers

Key regional markets were higher at the midday break on July 14, oN resurging hopes of a firmer global economic recovery, while commodities also climbed.
The recovery of the crude palm oil prices also revived some investors’ interest in plantation stocks including Sime Darb. At 12.30pm, the FBM KLCI rose 9.72 points or 0.91% to 1,073.38. Turnover was 256.56 million shares valued at RM365.67 million. Advancers beat decliners two to one, with 322 gainers, 115 losers and 181 stocks unchanged.

Japan’s Nikkei 225 rose 1.99% to 9,230.31, Hong Kong’s Hang Seng Index added 2.36% to 17,661.01, Shanghai’s Composite Index 1.56% higher at 3,128.48 and Singapore’s Straits Times Index advanced 1.66% to 2,304.37.

Light crude oil rose 63 cents to US$60.32 while third-month CPO futures added RM46 to RM2,036.

At Bursa Malaysia, BCHB rose 25 sen to RM9.45 while Bursa Malaysia gained 10 sen to RM6.95. Among plantations, Kulim rose 25 sen to RM6.65, Sime Darby added 10 sen to RM7.25 and Batu Kawan also 10 sen to RM8.60. F&N added 10 sen to RM8.95.
KNM was the most active counter with 20.2 million shares done, adding one sen to 72.5 sen. JAKS added 2.5 sen to 79.5 sen on improving prospects for more contracts.

Guoco fell the most, sliding 17.5 sen to 92.5 sen, Uzma 15 sen to RM1.45 while Dutch Lady and Lafarge declined 10 sen each to RM10.90 and RM5.85.