Tenaga Jumps to 19-Year High on Price Boost: Kuala Lumpur Mover
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Tenaga Nasional Bhd., Malaysia’s national power distributor, surged the most in more than two years and led the country’s benchmark equity index to close at an all-time high after the government let it raise power prices.
The shares rallied 8.4 percent to 10.72 ringgit in Kuala Lumpur trading, the biggest gain since May 31, 2011 and the highest closing level since February 1994. Tenaga earlier climbed as much as 27 percent. The FTSE Bursa Malaysia KLCI Index rose 0.3 percent to 1,824.29.