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 fell 0.6 per cent to 1,504.22, its second day of declines.
Plantation stocks: Kuala Lumpur Kepong Bhd gained 2.2 per cent to RM23.50, a record close. IJM Plantations Bhd advanced 3.9 per cent to RM2.96, its highest close since April 29. Kulim Malaysia Bhd climbed 2.3 per cent to RM4.42, a record.
The March-delivery palm oil contract advanced 1.6 per cent to RM3,225 per metric ton on the Malaysia Derivatives Exchange yesterday, the highest close since Nov. 18. It traded at RM3,220 at 5:08 p.m. today.
Property stocks: Mah Sing Group Bhd lost 7.1 per cent to RM1.95, the most since Sept. 13. UEM Land Holdings Bhd slid 6.3 per cent to RM2.23, its steepest decline since Sept. 26.
Malaysia’s property industry was downgraded to “trading buy” from “overweight” by CIMB Group Holdings Bhd, which cited concerns economic growth will slow this year. UEM Land was cut to “neutral” and Mah Sing was downgraded to “trading buy,” CIMB analyst Terence Wong wrote in a report.
YTL Power International Bhd, a power producer, added 1.1 per cent to RM1.85, its highest close since Dec. 8. UBS AG upgraded the stock to “neutral” from “sell” following a 29 per cent drop in its share price since November 2010, Nicole Goh, an analyst at UBS, wrote in a report. She also raised the stock’s price estimate to RM1.90 from RM1.75. -- Bloomberg
The FTSE Bursa Malaysia KLCI Index fell 0.6 per cent to 1,504.22, its second day of declines.
Plantation stocks: Kuala Lumpur Kepong Bhd gained 2.2 per cent to RM23.50, a record close. IJM Plantations Bhd advanced 3.9 per cent to RM2.96, its highest close since April 29. Kulim Malaysia Bhd climbed 2.3 per cent to RM4.42, a record.
The March-delivery palm oil contract advanced 1.6 per cent to RM3,225 per metric ton on the Malaysia Derivatives Exchange yesterday, the highest close since Nov. 18. It traded at RM3,220 at 5:08 p.m. today.
Property stocks: Mah Sing Group Bhd lost 7.1 per cent to RM1.95, the most since Sept. 13. UEM Land Holdings Bhd slid 6.3 per cent to RM2.23, its steepest decline since Sept. 26.
Malaysia’s property industry was downgraded to “trading buy” from “overweight” by CIMB Group Holdings Bhd, which cited concerns economic growth will slow this year. UEM Land was cut to “neutral” and Mah Sing was downgraded to “trading buy,” CIMB analyst Terence Wong wrote in a report.
YTL Power International Bhd, a power producer, added 1.1 per cent to RM1.85, its highest close since Dec. 8. UBS AG upgraded the stock to “neutral” from “sell” following a 29 per cent drop in its share price since November 2010, Nicole Goh, an analyst at UBS, wrote in a report. She also raised the stock’s price estimate to RM1.90 from RM1.75. -- Bloomberg
