Malaysian Stocks: Proton Holdings, Sime, Tradewinds Plantation
The FTSE Bursa Malaysia KLCI Index rose 0.3 percent to 1,489.02, its highest close since Nov. 9. The gauge climbed 4 percent this week, its biggest weekly gain since the five days ended July 17, 2009.
Plantation stocks: Tradewinds Plantation Bhd. (TWPB) advanced 6.4 percent to 4.17 ringgit, its highest close since April 24, 2008. TDM Bhd. (TDM) gained 5 percent to 3.80 ringgit and Sime Darby Bhd. (SIME) rose 0.9 percent to 9.12 ringgit.
Palm oil futures rose 1.3 percent to 3,058 ringgit a metric ton in Malaysia yesterday, snapping a seven-day slump, and traded 0.5 percent higher at 3,072 ringgit at 5:09 p.m. local time.
Proton Holdings Bhd. (PROH) , Malaysia’s state-controlled carmaker, surged 16 percent to 3.61 ringgit, its highest close since Feb. 28. Proton is “on our radar now” as it’s a “beneficiary” of mergers and acquisitions of government-linked companies, UOB-Kay Hian Holdings Ltd. wrote in a report.
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