The stock market consolidated on May 13 after a volatile session with blue chips holding up, especially plantations due to high crude palm oil (CPO) futures which rose to a nine-month high of RM2,735.
Plantations would continue to draw investors’ interest following the firm fundamentals supporting the CPO prices. As it is, most efficient plantation companies are making money with CPO at RM1,200 but the current dry weather could affect production.
Oil and gas would continue to attract attention with oil at nearly US$60 per barrel as investors pin their hopes on a global economic recovery to fuel demand.
But investors should also be on alert for negative news as most of the Malaysian companies have yet to announce their results.
The weak overnight close on Wall Street after a gloomy retail sales report revived recent anxiety about the economy's struggle, would weigh on sentiment in Asia markets.
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