KUALA LUMPUR: Asian markets rallied in the morning session on May 4, as investors pinned their hopes on a global recovery while crude palm oil (CPO) futures jumped RM144. Asian markets notched gains of between 1.4% and 4.2%,

At 12.30pm, the KL Composite Index rose 14 points or 1.4% to 1,004.74. Turnover was 954.94 million shares valued at RM786 million. There were 372 gainers, 156 losers and 186 counters unchanged. The plantation index rose 101.1 points to 5,082.94.

Key Asian markets also rallied, with Hong Kong’s Hang Seng Index up 4.2% to 16,168.88 and Shanghai’s A Share Index 2.28% to 2,534.08 while Singapore’s Straits Times Index advanced 3.8% to 1,992.63.

Light crude oil slipped four cents to US$53.16 while CPO futures rose RM144 to RM2,679 per tonne.

At Bursa Malaysia, BHCB was the top gainer, surging 55 sen to RM8.60, Nestle 50 sen to RM30.25, Shell 35 sen to RM10.20 and Tanjong 30 sen to RM14.40. Bursa advanced 25 sen to RM6.40 while Parkson added 22 sen to RM4.38.

BAT rose 25 sen to RM44.75 and JT International 16 sen to RM4.40. IOI Corp rose 16 sen to RM4.46, riding on the CPO rally.

KNM was the most active with 114.5 million shares done, rising three sen to 60.5 sen, Ramunia added 1.5 sen to 63 sen and Ramunia-WA 2.5 sen to 40 sen.

DiGi and PPB fell 30 sen each to RM22 and RM10.30, Ipmuda 28 sen to 62 sen, Asiafile 20 sen to RM5 while SP Setia gave up 14 sen to RM3.40.