CPO futures to trade sideways with downside bias

PETALING JAYA: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to trade sideways with a downside bias this week, mainly due to the current negative global market sentiment.

Palm oil trader David Ng said the negative sentiment could be due to various factors such as economic uncertainties, geopolitical tensions, supply-and-demand imbalances, or other issues affecting the global market that may lead to a lack of confidence or bearish outlook.