Light, sweet crude for September delivery settled down USD -4.82 to USD 115.20 on the New York Mercantile Exchange. It was the lowest close since May 1, when oil finished at USD 112.52.
Oil has fallen more than USD -32.00, or nearly 22%, from the record high of USD 147.27 set July 11. With strong dollar, the Crude Oil prices seems to getting weaker and weaker.
Dow Jones Industrial Average closed up 302.89 points to 11,734.32 points yesterday.
Hope this rally will help our share market a bit but what would happen to our plantation counters ?
Usually the Crude Palm Oil prices might follow with Crude Oil prices retreat. Hence there might be another round of selling in Plantation Stocks. Some of the big Plantation counter hold a few percentage points of our KL Composite Index.
It is not easy to monitor with so many things to consider. Political situation, Crude Oil prices, Crude Palm Oil prices and a bit of our current economy in Malaysia.
But one thing for sure, I guess. AIRASIA will fly higher again. Watch for next week whether this counter might be flying higher after the overnight Crude Oil prices tumbles.
One's must be brave to make a decision as a decision will eventually make things happen.
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