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Malaysian Stocks: Proton Holdings, Sime, Tradewinds Plantation

By Gan Yen Kuan

Dec. 2 (Bloomberg) -- Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

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 MK) advanced 6.4 percent to 4.17 ringgit, its highest close since April 24, 2008. TDM Bhd. (TDM MK) gained 5 percent to 3.80 ringgit and Sime Darby Bhd. (SIME MK) 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 MK), 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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