Plantation stocks see interest amid sector play
Bumitama Agri, First Resources and Wilmar among gainers; STI rises 10.01 points or 0.3% to close at 3,172.9
INVESTORS continued to rotate into Singapore-listed plantation stocks on the back of rising crude palm oil (CPO) prices and falling inventory levels, which have seen the sector outperforming the broader market in recent weeks.
These agribusiness players include the Straits Times Index's (STI) Wilmar International. Its shares, which also remain supported by progress of the listing of its Chinese unit, added S$0.10 or 2.4 per cent on Wednesday to S$4.22.
Other firms benefiting from greater investor interest of late include Bumitama Agri (up S$0.02 or 2.7 per cent to S$0.765), First Resources (up S$0.01 or 0.5 per cent to S$1.86) and Olam International (unchanged at S$1.78).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apple rallies most in 18 months on upbeat forecast, buyback
US: Wall St opens sharply higher on soft jobs data
HSBC has no plans to dispose of further businesses, chairman says
Glencore Group nears deal for Shell’s Singapore oil refinery
Chinese share of French EV market slumps after incentives curbed
ARA H-Trust Q1 net property income up marginally to US$6.4 million