Friday 29 Mar 2024
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KUALA LUMPUR: PPB Group and Kuala Lumpur Kepong weighed on the FBM KLCI in early trade on Sept 2 on weaker crude palm oil (CPO) prices.

At 9.13am, PPB was down 20 sen to RM15.10 with 5,100 shares done while KL Kepong lost 12 sen to RM13.08.

The FBM KLCI fell 5.64 points to 1,165.64. Turnover was 32 million shares valued at RM25.7 million.

Investors may continue to take profit in plantations in anticipation of lower demand for  soybean and palm oil in China would drag prices of the commodities down after policymakers there curbed  disbursement of new loans.

China is Malaysia's biggest palm oil importer, Malaysian palm oil for November 2009 delivery fell RM67 to  RM2303 a tonne yesterday.

New loans in China fell to 355.29 renminbi July this year, significantly lower than the  1.53 trillion renminbi  a month earlier.

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