The Star Online: Business
The Star Online: Business |
- Alliance Research lowers Affin to Neutral buts target price
- KLCI inches up in early trade, boost from PPB Group, HLFG
- Malaysia's Titan seeks up to 130,000 tonnes of naphtha
| Alliance Research lowers Affin to Neutral buts target price Posted: 20 May 2013 06:59 PM PDT |
| KLCI inches up in early trade, boost from PPB Group, HLFG Posted: 20 May 2013 06:24 PM PDT Published: Tuesday May 21, 2013 MYT 9:24:00 AMKUALA LUMPUR: Malaysia's blue chips inched up in early Tuesday trade, lifted by gained in PPB Group and HLFG, but the overall breadth of the market was firm. At 9.09am, the FBM KLCI was up 1.46 points to 1,778.61. Turnover was 174.78 million shares valued at RM94.25mil. Advancing counters beat decliners 301 to 70 or a margin of more than four to one, as retail interest in lower liners and penny stocks rose. BIMB Securities Research said despite the late profit taking on Monday, "we may continue to see buying momentum to continue today as the spillover effect from Japan has been rather prominent. Immediate resistance is seen at the 1,780 level". PPB Group rose 14 sen to RM13.84 with 500 shares done while HLFG added 12 sen to RM15.70 with 100 shares traded. Nestle was the top gainer, adding 44 sen to RM63.98, Parmaniaga 27 sen to RM9.38, Naim 16 sen to RM3.91 and property-based Plenitude 14 sen to RM2.37. Lafarge Cement fell 26 sen to RM10.70 with 100 shares done, Axis REIT shed 17 sen to RM3.79 while Affin was down five sen to RM4.46. Down four sen each were Genting Bhd and SP Setia to RM10.68 and RM3.71.
|
| Malaysia's Titan seeks up to 130,000 tonnes of naphtha Posted: 20 May 2013 06:08 PM PDT Published: Tuesday May 21, 2013 MYT 9:09:00 AMSINGAPORE: Malaysia-based Lotte Chemical Titan, a unit of South Korea's top ethylene maker Lotte Chemical, is seeking up to 130,000 tonnes of naphtha for July 2013 to June 2014 delivery, traders said on Monday. The volumes are lower than the 200,000 tonnes of full-range naphtha it bought last year for October 2012 to September 2013 delivery at about $2 a tonne premium to Japan quotes on a cost-and-freight (C&F) basis. The tender is coming at a time when spot naphtha premiums for June cargoes have fallen sharply from about three months ago when tight supply due to refinery maintenance and strong demand had pushed up prices to record-high levels. High volumes of western naphtha coming to Asia, seasonal peak refinery maintenance coming to an end in the East and the availability of alternative feedstock liquefied petroleum gas (LPG) have helped bring naphtha spot premiums down. Titan's tender stated that it needs a cargo of 25,000 to 32,500 tonnes naphtha every quarter for arrival at Pasir Gudang during the one-year period. The tender closes on May 23, with offers to stay valid until May 31. - Reuters
|
| You are subscribed to email updates from The Star Online: Business To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 ulasan:
Catat Ulasan