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MARKET DEVELOPMENT
Plantation counters lift market
calendar06-07-2006 | linkThe Edge News | Share This Post:

4/7/06 (The Edge News)   -  Plantation stocks lifted the market at midday sparked by the surge in crude palm oil futures prices led by the increase in demand from China and firmer soy prices in Chicago.

The Kuala Lumpur Composite Index was 5.93 points higher at 925.07, the FBM Emas rose 41.61 points to 6,035.9, while the Second Board Index gained 0.35 point to 94.56.

Volume amounted to 558.48 million shares. There were 467 gainers, 198 losers while 239 counters were traded unchanged.

Among the heavyweights, Maybank added 10 sen to RM10.70, while Tenaga and Telekom gained five sen each to RM9.20 and RM9.05.

Plantation stocks KL Kepong and IOI Corp rose 30 sen each to RM10.20 and RM14.90, while United Plantations, PPB Oil Palms and Batu Kawan added 15 sen each to RM7.80, RM6.75 and RM8.15, respectively.

Kulim warrants added 11 sen to RM1.14 and Chin Teck rose 10 sen to RM5.30.

The other gainers include Bursa Malaysia, which rose 20 sen to RM6.05, BIMB Holdings 18 sen to RM1.56 while MTD Infraperdana jumped 11 sen to RM1.35.

Tebrau Teguh the most active with 54.71 million shares done added 7.5 sen to 49 sen.

Actively traded UEM World and UEM Builders gained five sen each to RM1.67 and RM1.26 while MRCB was unchanged at 80.5 sen.

The losers include Genting and Proton, which fell 10 sen each to RM23.90 and RM5.10, while KFCH dipped eight sen to RM4.60.