Rising Tension between Russia And Ukraine May Stir Investors Interest In Plantation Counters

The continued rise in the tension between Russia and Ukraine may see investors trading interest in the plantation counters amid the shortfall in sunflower oil, Malacca Securities said in a note.

It said that the energy, metal-related, and consumer stocks are still among the top sectors to watch under this jittery environment

The stockbroking house said that despite a broad rebound in regional markets, the FBM KLCI retreated to close below the 1,600 psychological level as investors focus on the geopolitical developments between Russia-Ukraine after the earnings season.

“With the Wall Street remained in the risk-off mode overnight, we expect volatility to persist and profit-taking activities may continue on the local front with the unsettled Russia- Ukraine incident,” Malacca Securities said.

Nevertheless, it said that the elevated commodity prices, coupled with the net buying of foreign funds should lend support to the local bourse. “At the time of writing, Brent oil is trading above USD107, while CPO surged above RM7,000,” the stockbroking firm said.

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