3/5/2006 (The Edge Daily)  -  Plantation stocks, led by heavyweight IOI Corporation, were among the major gainers in early trade on May 3, on the bullish outlook for crude palm oil (CPO).

Analysts expect CPO prices to trade between RM1,400 and RM1,600 per tonne until the first quarter of 2007.

At 10am, the Kuala Lumpur Composite Index was up 0.51 of a point to 951.54, after peaking at 954 earlier. The plantation sub-sector index rose 83.60 points to 3,375.89.

Turnover was 337 million shares. Gainers led losers 291 to 204 while 263 counters were flat.

IOI Corp rose 70 sen to RM15.60, Kuala Lumpur Kepong 30 sen to RM10.30 and PPB Oil Palms 15 sen to RM6.70 at 10am.
Asiatic Development added eight sen to RM3.30, TH Plantations seven sen to RM1.98 and Tradewinds Plantation five sen to RM1.84.