Malaysia’s FTSE Bursa Malaysia KLCI Index rose 17.80, or 1.2 percent, to 1,503.22 at the 5 p.m. close in Kuala Lumpur, its steepest gain since Sept. 14.
Plantation stocks: Sime Darby Bhd. (SIME MK) led plantation stocks higher after palm oil futures climbed for a fourth day, touching the highest price in more than two years. Sime, the world’s biggest listed palm oil producer, gained 2.3 percent to 8.83 ringgit, its biggest gain since Aug. 30. Kuala Lumpur Kepong Bhd. (KLK MK) advanced 2 percent to 20.98 ringgit, a record close.
Goodway Integrated Industries Bhd. (GII MK), a maker of rubber products and retread tires, advanced 1.7 percent to 88 sen. The company signed an agreement with Emirates General Transport and Services Corp. to provide technical support and consultancy services. Goodway will also supply retread products for two years to Emirates General, it said in a statement.
K-Star Sports Ltd. (KSTR MK), a Chinese maker of sports footwear, slid 7 percent to 53 sen, extending a two-day, 46 percent plunge. The company said it doesn’t know the reason for yesterday’s price slump, responding to a stock exchange request for an explanation.
Petronas Gas Bhd. (PTG MK), a natural gas distributor, rose 2.3 percent to 11.40 ringgit, the most since Oct. 14, after saying it signed a preliminary agreement with Petroliam Nasional Bhd. for the development of a liquefied natural gas import terminal project in Malaysia’s Melaka state.
Silk Holdings Bhd. (SIB MK), a toll road operator, gained 1.4 percent to 36.5 sen. The company said its oil and gas services division received a 12 million ringgit contract to provide an anchor handling tug supply vessel to an oil company.