Malaysia Stocks: AirAsia, Berjaya Retail, Ta Ann, WTK Holdings
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index was little changed at 1,495.35.
Timber stocks: WTK Holdings Bhd. (WTKH) and Ta Ann Holdings Bhd. (TAH) , two timber companies, rose after brokerages including RHB Research Institute Sdn. and AmResearch Sdn. said they will benefit from increased demand for plywood as Japan rebuilds following last week’s earthquake and tsunami. WTK gained 5.6 percent to 1.33 ringgit, the most since Oct. 15. Ta Ann rose 1.7 percent to 4.84 ringgit, the most since March 3.
Airlines: AirAsia Bhd. (AIRA) , Southeast Asia’s biggest budget carrier, and Malaysian Airline System Bhd. (MAS) , advanced on expectations of lower fuel costs after crude oil fell to a two-week low in New York. AirAsia added 2.8 percent to 2.54 ringgit, the largest gain since Feb. 25. Malaysian Airline climbed 1.6 percent to 1.86 ringgit.
Berjaya Retail Bhd. (BRIB) , a retail store operator, surged 51 percent to 64 sen, a record jump after the company received a privatization offer of 65 sen a share from its controlling shareholder.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org