Asian stocks closed with little change, HSI closed flat, Nikkei was down by 0.04% and STI rose by 0.8%. FBM KLCI surged higher by 10.28 points to close at 1,328.22.
Last Updated
10 March 2010 06:07:34 pm
Asian stocks closed with little change, HSI closed flat, Nikkei was down by 0.04% and STI rose by 0.8%. FBM KLCI surged higher by 10.28 points to close at 1,328.22. Top gainers are PPB (+60sen, RM17.30), BAT (+44sen, RM43.98), Nestle (+42sen, RM34.52), KLK (+38sen, RM17.02) and CIMB (+14sen, RM14.28).
China exports and imports figures in February was higher than forecast. With the fear of heightened inflation, policy makers in China may be pressured to withdraw its stimulus measures and raising interest rate.
Palm oil stocks dropped 11% in February compared to the previous month. With the reduced supplies and concern on the dry weather may push the palm oil prices higher. Plantation stocks such as PPB, Sime, KLK, Batu Kawan, IOI Corp have climbed higher today following the news.
RBS has encouraged investors to buy ringgit against Japanese yen and South Korea won as it expects central bank to increase the policy rate as many as two more times this year.
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