Malaysia Stocks: Glomac, IJM, Jaks, KL Kepong, Tradewinds

Malaysia’s FTSE Bursa Malaysia KLCI Index fell 2.24, or 0.2 percent, to 1,500.98 at the 5 p.m. close in Kuala Lumpur. The gauge gained 0.6 percent this week.

Plantation stocks: Kuala Lumpur Kepong Bhd. (KLK MK) led plantation stocks higher after palm oil rose for a fifth day, set for the biggest weekly advance in almost five months. Kuala Lumpur Kepong climbed 1.9 percent to 21.38 ringgit, a record close. Tradewinds Plantation Bhd. (TWPB MK) gained 2.3 percent to 2.69 ringgit.

Glomac Bhd. (GLMC MK), a property developer, rose 0.6 percent to 1.71 ringgit, its highest close since Nov. 8. The company said profit in the second quarter ended Oct. 31 surged 71 percent from a year earlier to 15.9 million ringgit ($5 million) as sales gained.

IJM Corp. (IJM MK), a builder, fell 2.5 percent to 5.98 ringgit, the most since Sept. 17, snapping a two-day, 6.8 percent gain. OSK Research Sdn., in a report today, cut the stock to “neutral” from “trading buy” because of the recent surge in its share price.

Jaks Resources Bhd. (JAK MK), a pipe maker, advanced 2.1 percent to 71.5 sen, its highest close since Nov. 18. Jaks said its joint venture won a 268.5 million ringgit water pipeline contract.

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