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Market turnaround, INVESTOR DIGEST

Investor Digest (Malaysia), July, 2001

Investor Digest (Malaysia) 07-16-2001 THE market staged a strong reversal last month as the supply-demand scenario turned friendly. Prices gained strength on technical buying once the important RM780/MT resistance was breached. Talk of the impending Chinese import quota kept sentiment steady.

Strong export estimates for June 01 kept the Malaysian crude market firm with a strong premium of RM10-RM15/MT against futures prices. Sentiment was also fired up ahead of the Pakistani Budget that will likely table a positive import duty revision for palm oil, fuelling a price breach above the major RM800/MT resistance. A friendly end May 01 MPOB estimate which pegged production at 985,063MT ( 6.87%, within estimate) and stocks at 1,187,712MT (-0.12%, slightly...

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