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    KLK   MYL2445OO004

KUALA LUMPUR KEPONG

(KLK)
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Southeast Asia stocks: End firmer on virus vaccine hopes; Thailand hits 2-1/2 month high

05/19/2020 | 06:32am EDT
A stockbroker speaks on the phone inside the Philippine Stock Exchange (PSE) in Makati city, metro Manila

By Pranav A K

Southeast Asian stock markets gained on Tuesday, with Thailand hitting its highest level in more than two months, as investors cheered positive data from an early-stage study testing a coronavirus vaccine.

Asian equities tracked Wall Street's rally on Monday after drugmaker Moderna Inc's experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data.

"The peak-virus trade continues to gather momentum after last night's Moderna headlines," said Jeffrey Halley, senior market analyst at OANDA.

"Moderna's trial is terrific news, but the sample size was not statistically significant... Thus, in the best-case scenario, it will probably be another year before normal life will make a comeback, at best."

Leading gains in the region, Thai shares rose 1.8% to close at their highest level since March 6, lifted by industrial and energy stocks.

Thai Airways International surged 14.6% and boosted the index after the cabinet approved a court-led restructuring of the troubled national carrier.

Indonesian shares, which rose as much as 2.2% in the session, closed 0.8% higher after the central bank kept its policy rate steady against expectations for a cut.

Interest rate sensitive bank stocks rose on the news, with Bank Tabungan Pensiunan Nasional Syariah PT jumping 8.1% and PT Bank Rakyat Indonesia (Persero) surging 9.2%.

However, Bank Indonesia (BI) pledged to maintain ample cash in the financial system and said there was room to cut rates in the future to cushion Southeast Asia's biggest economy.

"With BI retaining its accommodative stance we continue to expect more rate cuts in the coming months given expectations for a contraction in GDP as early as the 2Q," ING Economist Nicholas Mapa wrote in a note.

Singapore shares extended gains into a third session, buoyed by financial and consumer service stocks.

Malaysian stocks rose 1%, closing at its highest level since April 20, after the world's biggest edible oil importer India resumed purchases of Malaysian palm oil after a four-month gap following a diplomatic row.

Petronas Chemicals Group climbed 5%, while palm oil and rubber plantation company Kuala Lumpur Kepong rose 3.5%.

(Reporting by A K Pranav in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.80% 36.11 Delayed Quote.133.57%
BATU KAWAN -0.10% 19.48 End-of-day quote.8.83%
BEST INC. -3.03% 1.28 Delayed Quote.-37.25%
CRUDE PALM OIL 0.00% 873.25 End-of-day quote.3.01%
KUALA LUMPUR KEPONG -1.11% 21.3 End-of-day quote.-10.05%
LONDON BRENT OIL 0.21% 73.12 Delayed Quote.40.00%
MODERNA, INC. -5.23% 207.41 Delayed Quote.98.54%
PETRONAS CHEMICALS GROUP 0.25% 8.1 End-of-day quote.9.02%
PT BANK BTPN SYARIAH TBK -0.68% 2900 End-of-day quote.-22.67%
PT BANK RAKYAT INDONESIA (PERSERO) TBK 1.64% 4350 End-of-day quote.4.32%
SET -0.21% 1633.06 Real-time Quote.12.68%
THAI AIRWAYS INTERNATIONAL 29.69% 3.32 End-of-day quote.5.06%
WTI 0.18% 71.129 Delayed Quote.45.60%
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Financials
Sales 2021 20 026 M 4 868 M 4 868 M
Net income 2021 1 214 M 295 M 295 M
Net Debt 2021 3 115 M 757 M 757 M
P/E ratio 2021 19,4x
Yield 2021 2,61%
Capitalization 22 973 M 5 578 M 5 584 M
EV / Sales 2021 1,30x
EV / Sales 2022 1,32x
Nbr of Employees 40 000
Free-Float 24,3%
Chart KUALA LUMPUR KEPONG
Duration : Period :
Kuala Lumpur Kepong Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends KUALA LUMPUR KEPONG
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 27,19 MYR
Last Close Price 21,30 MYR
Spread / Highest target 64,3%
Spread / Average Target 27,6%
Spread / Lowest Target 12,7%
EPS Revisions
Managers and Directors
NameTitle
Oi Hian Lee Chief Executive Officer & Executive Director
Sean Meng Leong Group Chief Financial Officer
Muhammad Alias bin Muhammad Ali Chairman
Eng Khoon Yeoh Senior Independent Non-Executive Director
Azlan bin Mohammed Zainol Independent Non-Executive Director
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DUPONT DE NEMOURS, INC.14.68%43 396
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EVONIK INDUSTRIES AG6.15%16 002