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

Published Wed, Dec 11, 2019 · 09:50 PM

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) …

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes