KUALA LUMPUR, Jan 2 (NNN-BERNAMA) — Most of the plantation-linked counters on Bursa Malaysia ended the morning session higher today as investors hailed India’s move of cutting import duties on crude palm oil and refined palm oil from Southeast Asian countries, effective Jan 1, 2020.
At 12.30 pm, all the three plantation-linked counters on the FTSE Bursa Malaysia KLCI (FBM KLCI), namely KLK, Sime Darby Plantation and IOI Corporation, ended in the black due to the good news for the industry.
KLK, which is also the top gainer on the local bourse, jumped 42 sen to RM25.22, Sime Darby Plantation rose three sen to RM5.48 while IOI Corporation improved two sen to RM4.63.
The positive performance of the plantation-related bluechips, along with the persistent buying interest seen in most of the index-linked counters, sent the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to end the morning session at 1,595.83, rising 7.07 points from Tuesday’s close of 1,588.98.
After opening at 1,590.98, the key index moved between 1,590.98 and 1,597.34 throughout the morning session.
