11/04/2012 (The Star) - Plantations gave the Malaysian market a boost on Tuesday with investors seen picking up plantation stocks after crude palm oil (CPO) prices rose to fresh 13-month highs.

The FBM KLCI rose 5.89 points to 1,597.17. Turnover was 1.11 billion shares valued at RM1.57 billion. There were 365 gainers, 332 losers and 333 stocks unchanged.

Among the index-linked stocks, Genting Bhd added 24 sen to RM11.08, pushing the KLCI up 2.09 points.

Plantation stocks were among the gainers following a decline in the inventory for March -- the lowest in seven months -- which would support prices. CPO futures for third month delivery rose RM46 to RM3,621, the highest since early March 2011.

Among the regional markets, Hong Kong's Hang Seng Index fell 1.15%, South Korea's Kospi slipped 0.13% to 1,994.41 and Japan's Nikkei 225 0.09% lower at 9,538.02.

However, Singapore's Straits Times Index rose 0.75% to 2,982.44 and Shanghai's Composite Index 0.93% higher at 2,305.86.

At Bursa Malaysia, IOI added 11 sen to RM5.40, nudging the KLCI up 1.67 points. Tradewinds Plantations rose 26 sen to RM5.71, Batu Kawan 20 sen to RM18.74, BLD Plantations 19 sen to RM9.39 while Chin Tek added 14 sen to RM9.20. SOP fell 16 sen to RM6.72.

Country View jumped 29.5 sen to 95.5 sen with 3,100 shares done on late buying. KPJ climbed 13 sen to RM5.29.

Naim Indah Corp was the most active with 69.82 million shares done. It edged up one sen to 54 sen.

DiGi was the second most active counter with 46.3 million shares done, rising one sen to RM3.91.

Tenaga, which is expected to announce its results on Thursday, fell seven sen to RM6.37. Its decline dragged the KLCI down 0.89 of a point.

CIMB Equities Research said in its research note on Monday that the feedback to its March roadshow was positive.

"Overall, investors are optimistic about Tenaga's prospects and believe the company will benefit from sector reforms. However, some funds are taking a more cautious approach due to the proximity of the 13th general elections.

"We believe Malaysia's power sector could be on the cusp of a transformation. Post elections, sentiment is likely to improve and reform initiatives gain traction with the uncertainty removed. Maintain Overweight. PetGas is our top pick," said CIMB Research.

Aeon fell the most, down 21 sen to RM9.79 with 596,100 shares done. GBH lost 12 sen to RM1.13 and GAB 10 sen to RM12.86.