IOI Corp Leads Planters Higher

IOI Corp led Malaysian plantation stocks higher in Kuala Lumpur trading after palm oil futures surged to a 26-month high yesterday.

IOI advanced 2.3 per cent to RM5.71 at 9:10 a.m. local time, set for its biggest gain since Sept. 13.

Sime Darby Bhd added 1.8 per cent to RM8.86 and Kuala Lumpur Kepong Bhd rose 0.6 per cent to RM17.80.

Palm oil futures for December delivery advanced 6.2 per cent to RM2,930 (US$945) a metric ton yesterday, the highest closing price since Aug. 1, 2008. — Bloomberg

Source: Business Times

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