IOI rises as Stanchart says buy planters

IOI Corp, a Malaysian plantation company, rose the most in more than three months in Kuala Lumpur trading after Standard Chartered Bank recommended investors should buy plantation stocks to take advantage of resurgent crude palm oil prices.


The stock rose 2.5 per cent to RM5.35 at 10:05 am local time, its biggest gain since November 9 and the best performer on the benchmark FTSE Bursa Malaysia KLCI Index.


Palm oil prices have enjoyed their longest rally in more than a year, closing February 12 at RM2,579 (US$754) a metric ton. -- Bloomberg