KUALA LUMPUR (Feb 3): Affin Hwang Capital Research has revised upward its average crude palm oil (CPO) price forecast to RM2,600 per metric tonne (MT) from RM2,400 per MT for 2017 and 2018, amid tight global supply and weakness in the ringgit. It said these factors include a recovery in CPO production, strengthening of the ringgit and narrower soybean premium. The research house has upgraded Sime Darby Bhd, Felda Global Ventures Holdings Bhd and Genting Plantations Bhd to hold. IOI Corp Bhd, Kuala Lumpur Kepong Bhd and IJM Plantations Bhd were also upgraded to buy. At 10.31am, plantation counters were mostly up, with Chin Teck Plantations Bhd rising 1.52% to RM8, PPB Group Bhd up 0.62% at RM16.20 and Genting Plantations climbing 0.55% to RM11.06.

Source: The Edge Markets February 03, 2017 03:11 UTC