KUALA LUMPUR: PLANTATION []s were among the major gainers in morning trade on Wednesday, Feb 17 as crude palm oil (CPO) price advanced to its highest in six weeks, taking its cue from the rebound in light crude oil prices.
Key regional markets also rose, chalking up gains of between 1% and 2.5% after Wall Street's major indices recorded their biggest daily percentage gain in three months, signalling a return of risk appetite among investors.
At 12.30pm, the FBM KLCI rose 10.48 points or 0.84% to 1,263.87. Turnover was 262.06 million shares valued at RM405.11 million. There were 340 gainers, 147 losers and 179 stocks unchanged.
Japan's Nikkei 225 rallied 2.57% to 10,291.89, Hong Kong's Hang Seng Index added 1.77% to 20,627.72 while Singapore's Straits Times Index advanced 1.06% to 2,788.02.
CPO prices rose RM33 to RM2,613, the highest since early January while light crude oil added 26 cents to US$77.27 and US spot gold fell US$1.13 to US$1,118.32.
Among plantations, PPB rose 30 sen to RM16.30, KL Kepong 26 sen to RM16.64, IOI Corp 12 sen to RM5.34 while Sime Darby added 10 sen to RM8.50.
Other index-linked stocks which posted solid gains were Tanjong, up 30 sen to RM17.72, Hong Leong Bank 19 sen to RM8.20, Public Bank six sen to RM11.16 and AMMB five sen to RM4.95. Hong Leong Finance added 22 sen to RM7.75. Maybank rose two sen to RM6.92 with 6.15 million shares done.
Hai-O was the top performer, rising 33 sen to RM9.43, Supermax 25 sen to RM5.37.
MAS-OR was the most active, adding 0.5 sen to 14 sen with 22.3 million units done.
LPI fell the most, down 44 sen to RM12.82 with 200 shares done while KKB fell 30 sen to RM3.55 and Prfuren five sen to RM1.45.
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