oil price

 
 

An uphill battle for CPO

KUCHING: When it comes to the palm oil sector, like most traded commodities, ‘smooth sailing’ is something rarely mentioned by experts of the field in regards to the prospects of this industry. Palm oil experts are generally painting a good short-term outlook for the sector in 2018 – but palm industry players are more sceptical […]


Equities Weekly: Global equities in the black yet again

Equity markets around the world on aggregate continued to record gains for investors, with the MSCI AC World Index 0.8 per cent higher from the previous week. The developed markets of Europe, Japan and the US climbed higher, with the latter’s S&P 500 Index recording new all-time highs and posting a 1.1 per cent gain […]


Bursa Malaysia to continue upward momentum

KUALA LUMPUR: Bursa Malaysia is expected to continue its positive momentum, driven by a stronger ringgit, firmer oil price, strong global economic outlook, and better corporate earnings, a dealer said. Affin Hwang Investment Bank vice-president/head of Retail Research Datuk Dr Nazri Khan Adam Khan said the global economic outlook is looking good so far this […]


Malaysian palm prices to rise

KUALA LUMPUR, Jan 20 — Malaysian palm oil prices are expected to trade at RM2,500-RM2,700 per tonne due to falling production from March onwards, and as stock levels decline from now until July, said leading vegetable oils analyst Dorab Mistry…


Bursa Malaysia to continue upward momentum next week

KUALA LUMPUR: Bursa Malaysia is expected to continue its positive momentum next week, driven by a stronger ringgit, firmer oil price, strong global economic outlook, and better corporate earnings, a dealer said.

Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the global economic outlook is looking good so far this year, triggered by buying interest among local and foreign investors.

“It has been a good start (for FBM KLCI) this year, with positive outlook on the local and global economy. The local benchmark index has experienced the highest fund inflows in three years, signalling investors' confident towards our market,” he told Bernama.

For next week, he said that the FBM KLCI would likely move between 1,800 and 1,850 points.

“The strong oil prices have so far lent support to our market, of which about 30 per cent of companies in Bursa Malaysia are directly and indirectly involved in the oil and gas industry,” he said.

He said that the benchmark index would also be affected by US President Donald Trump's tax reform plan.

As the week ended, the market was traded mostly higher, benefitting from gains in the Wall Street, as well as positive economic data from China.

However, the European Union's (EU) approval of draft measures to back a ban on the use of palm oil in biofuels from 2021 on Thursday has hurt the plantation and palm oil related counters as the commodity is a major export from Southeast Asia to the EU.

On a Friday-to-Friday comparison, the FBM KLCI performed better, gaining 6.16 points to end the week at 1,828.83.

On the scoreboard, the FBM Emas Index slipped 26.78 points to 13,195.82, the FBMT 100 Index decreased 2.06 points to 12,860.60, the FBM Emas Syariah Index dipped 79.87 points to 13,627.46, the FBM 70 shed 154.79 points to 16,472.37, and the FBM Ace fell 192.66 points to 6,713.12.

On a sectoral basis, the Finance Index surged 26.07 points to 17,236.98, the Plantation Index fell 99.45 points to 8,037.87 and the Industrial Index erased 31.52 points to 3,368.02.

Total turnover slipped to 25.35 billion units valued at RM15.97 billion from 27.14 billion units valued at RM19.11 billion in the previous week.

Main Market volume decreased to 17.14 billion shares worth RM14.73 billion from the previous Friday's 17.88 billion shares worth RM17.59 billion.

Warrants turnover declined to 2.64 billion units worth RM448 million from 3.46 billion units worth at RM479.51 million previously.

The ACE Market narrowed to 5.51 billion shares valued at RM778.77 million against the previous week's 5.74 billion shares valued at RM1.02 billion. — Bernama


Oil prices fall as rally falters on growing US output concerns

HOUSTON, Jan 20 — Oil prices ended down yesterday and broke a four-week winning streak after a rally that had taken benchmarks to three-year highs, as investors sold positions on re-emerging US production concerns. Brent crude futures fell 70…


Global stocks rise as shutdown brews, bond yield at three-and-a-half year high

NEW YORK, Jan 20 — World equity markets climbed to a record yesterday as the US dollar held near three-year lows and a US government shutdown loomed, while US Treasury yields continued their ascent to hit their highest levels since September…


RAM reaffirms Malaysia’s gA2 rating

KUCHING: RAM Ratings has reaffirmed Malaysia’s respective global, ASEAN and Malaysia domestic-scale sovereign ratings of gA2/stable/gP1, seaAAA/stable/seaP1 and AAA/stable/P1. The ratings reflect the country’s resilient economic growth and the Government’s fiscal consolidation efforts. Malaysia’s external indicators are still supportive of its current ratings, although high government and household debt levels remain concerns. “Malaysia’s economic growth, […]


Stronger ringgit sees palm slide for fourth day

KUALA LUMPUR, Jan 19 — Malaysian palm oil futures fell for a fourth straight day today, weighed down by a stronger ringgit and concerns over slow exports. A stronger ringgit, palm’s currency of trade, makes the edible oil more expensive for…


IEA sees oil markets tightening as Venezuelan output collapses

LONDON, Jan 19 — Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency (IEA) said today. Debt…