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SD Guthrie lifts FBM KLCI to end above key 1,600 support level

The Star LogoThe Star2h ago

SD Guthrie lifts FBM KLCI to end above key 1,600 support level - The Star

Quick Summary:

KUALA LUMPUR: A rally in plantation stock, SD Guthrie, propelled by a jump in crude palm oil (CPO) price to a fresh 28-month high today, lifted Bursa Malaysia’s barometer index to breach above the key psychological support level of 1,600 on Friday.

The rally in CPO prices has lasted for three consecutive days, which was also boosted by higher crude oil prices amid expectations of increased demand from the United States and a likely delay in output increase by the Organisation of the Petroleum Exporting Countries (OPEC).

Rakuten Trade Sdn Bhd’s equity research vice president Thong Pak Leng said CPO futures surpassed RM4,900 per tonne today, drawing additional investor interest and supporting market resilience against global economic challenges.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 18:23:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 731 words

Reading Time: 5 minutes read

Sentences: 22 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23363222

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 34 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 2 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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The story "SD Guthrie lifts FBM KLCI to end above key 1,600 support level" was covered 2 hours ago by The Star, a news publisher based in Malaysia.

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  • URL: https://beamstart.com/news/sd-guthrie-lifts-fbm-klci-17304570663202

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