The FBM KLCI staged a relief rally today, breaking a three-day losing streak. The benchmark index climbed 9.65 points or 0.62% to close at 1,571.82, as investors look for oversold counters following the recent sell-down.
PETALING JAYA: Fraser & Neave Holdings Bhd (F&N) has identified rising commodity price pressures, which have accelerated since last year amid the Covi.
deepakMay 2, 2021
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Agriculture
EXCLUDING the cash crop of oil palm, Malaysia’s agriculture sector has not excited investors and large corporations. For the longest time, the sector has been dominated by smallholders and hardly has there been any listed company involved in say large scale vegetable farming.
But some changes are happening.
For one, the topic of food security has hogged the limelight, egged on by the Covid-19 pandemic.
Consumers have felt rising prices of staples such as vegetables and meat. The supply chain disruption has impacted the import and export of food products.
This in turn, has thrown up opportunities for some.
The benchmark index finished 0.11% or 1.81 points hgher at 1,602.40.
Areca Capital chief executive officer (CEO) Danny Wong said many investors are looking forward to a recovery in corporate earnings.
“There are expectations for the second quarter through the fourth quarter of the year that there will be a year-on-year (y-o-y) increase in earnings,” he said.
Glove stocks including Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Comfort Gloves Bhd and Kossan Rubber Industries Bhd were among the day s top gainers.
The day s top active stocks included LKL International Bhd, Luster Industries Bhd and AT Systematization Bhd.
Top losers included consumer and financial services stocks Nestle (Malaysia) Bhd and Fraser & Neave Holdings Bhd (F&N), as well as Hong Leong Financial Group Bhd (HLFG).