Closed higher. The FBM KLCI was up 9.0 points to close at 1,517.56. The growth of the Malaysian economy in 2010 was higher than official expectations as the economy expanded by 7.2% compared with the official projection of 7.0% and compared to a contraction of 1.7% in 2009. India expects to buy more palm oil from Malaysia in 2011 given the current shortage of edible oils in the country. Meanwhile, Malaysia’s palm oil export to India had dropped to 1.16m tonnes in 2010 compared with 1.35m tonnes in 2009. UMW Toyota Motor is anticipating Malaysia’s car sales to exceed 90k units this year to maintain its market share at 15%. Finally, both the US markets and crude oil price closed higher on Friday. Crude oil price was up USD0.87 to close at USD89.71/barrel.
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MARKET REVIEW - 21 February 2011
Closed higher. The FBM KLCI was up 9.0 points to close at 1,517.56. The growth of the Malaysian economy in 2010 was higher than official expectations as the economy expanded by 7.2% compared with the official projection of 7.0% and compared to a contraction of 1.7% in 2009. India expects to buy more palm oil from Malaysia in 2011 given the current shortage of edible oils in the country. Meanwhile, Malaysia’s palm oil export to India had dropped to 1.16m tonnes in 2010 compared with 1.35m tonnes in 2009. UMW Toyota Motor is anticipating Malaysia’s car sales to exceed 90k units this year to maintain its market share at 15%. Finally, both the US markets and crude oil price closed higher on Friday. Crude oil price was up USD0.87 to close at USD89.71/barrel.
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