CPO Futures Rise on Boosted by China Data

KUALA LUMPUR: Crude palm oil futures closed higher yesterday, supported by the market’s positive reaction to China HSBC Manufacturing Purchasing Manager’s Index.

Kenanga Deutsche futures dealer Chan Chee Wei said the data showed China’s manufacturing activity achieved 50.9 in December.

December 2012 gained RM58 to RM2,100 a tonne, January 2013 added RM48 to RM2,190, February 2013 rose by RM45 to RM2,275 and March 2013 gained RM43 to RM2,346.

Turnover rose to 197,356 lots from 34,576 lots, while open interest fell to 44,840 contracts from 185,512 previously.

On the physical market, December South ended at RM2,060 on Thursday.

Source :  Business Times

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