Euro Holdings tumbles, plantations slip as CPO futures fall

TheStar Fri, Jun 18, 2021 09:34am - 2 years View Original


KUALA LUMPUR: Furniture maker Euro Holdings tumbled for the third time this week while the fall in the crude palm oil (CPO) futures dragged plantation stocks into the red in early Friday trade.

At 9.16am, the FBM KLCI fell 2.63 points or 0.17% to 1, 568.23. Turnover was 570.89 million shares valued at RM278.34mil. Decliners led advancers 246 to 171 and 342 counters unchanged.

Bloomberg reported Asian stocks opened on a mixed footing Friday after U.S. technology shares rallied and Treasuries advanced, with investors unwinding some of this year’s dominant reflation trades. The dollar pared gains and commodities steadied after overnight losses.

Equities opened in the green in South Korea and Australia, while Japanese shares slipped. US futures were little changed after a fresh bout of rotation from cyclical stocks pushed the tech-heavy Nasdaq gauge to another record. The benchmark S&P 500 ended the U.S. session flat.

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