Malaysia Stocks: AirAsia, TH Plantations, United Plantations
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI Index fell 12.22, or 0.8 percent, to 1,513.63, snapping a five-day, 2.1 percent climb.
Airlines: Malaysian carriers slumped after oil prices climbed to the highest level in more than two years, threatening to raise their fuel costs.
AirAsia Bhd. (AIRA MK), Southeast Asia’s biggest budget airline, tumbled 8 percent to 2.54 ringgit, the most since April 27, 2009. Malaysian Airline System Bhd. (MAS MK), the national carrier which hedges its fuel, fell 2.9 percent to 2.02 ringgit, the steepest decrease since Jan. 21.
TH Plantations Bhd. (THP MK), a palm oil producer, jumped 3.7 percent to 1.97 ringgit, the biggest increase since Jan. 11, after fourth-quarter profit surged 89 percent from a year earlier to 42.6 million ringgit ($14 million).
United Plantations Bhd. (UPL MK), a palm oil planter, gained 2.9 percent to 17 ringgit, the most since Oct. 25. The company said fourth-quarter net income rose 20 percent to 81.9 million ringgit, according to an exchange filing.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
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