Malaysia Stocks: AirAsia, Jaya Tiasa, Ta Ann, WTK Holdings
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index was little changed at 1,492.09.
Timber companies: As much as 40 percent of Japan’s plywood production has been destroyed or significantly damaged in last week’s earthquake and tsunami, AmResearch Sdn. said in a report today, citing Glen Wilson, president of Interex Forest Products Ltd. This will spur demand for timber and building materials from other countries, AmResearch said in a report.
Ta Ann Holdings Bhd. (TAH) jumped 10 percent to 5.48 ringgit, the most since March 2004. WTK Holdings Bhd. (WTKH) rose 5.2 percent to 1.62 ringgit, the highest close since September 2008. Jaya Tiasa Holdings Bhd. (JT) increased 6.3 percent to 5.42 ringgit, the highest since May 2007.
AirAsia Bhd. (AIRA) lost 2 percent to 2.48 ringgit. HwangDBS Vickers Sdn. raised its jet-fuel price estimate for this financial year to $125 per barrel from its previous forecast of $105 per barrel. This will hurt earnings of Asian airlines including Malaysian carriers, HwangDBS said in a report today.
Tomei Consolidated Bhd. (TOME) , a jewelry maker, fell 2.3 percent to 62.5 sen, the most since Feb. 24. Tomei signed an agreement with Goldheart Jewelry Sdn. to buy its retail operations in Malaysia for 5.6 million ringgit ($1.8 million), the company said in an exchange filing.
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