Palm Oil
The cost of palm oil has surged 27 percent this year in Kuala Lumpur and reached a record 2,590 ringgit a metric ton on May 29. China, the world's biggest importer of the commodity, bought 1.6 million tons of palm oil in the first four months of the year, 27 percent more than a year earlier.
IOI's shares have climbed 51 percent this year, while those of Sime Darby Bhd., which also owns oil-palm plantations, are up 42 percent.
A cheap currency, earnings upgrades, foreign buying and a potential interest rate cut as inflation eases are all reasons to remain upbeat on Malaysia, Christopher Wood, CLSA Ltd.'s Hong Kong-based global equity strategist said May 23.
The cost of palm oil has surged 27 percent this year in Kuala Lumpur and reached a record 2,590 ringgit a metric ton on May 29. China, the world's biggest importer of the commodity, bought 1.6 million tons of palm oil in the first four months of the year, 27 percent more than a year earlier.
IOI's shares have climbed 51 percent this year, while those of Sime Darby Bhd., which also owns oil-palm plantations, are up 42 percent.
A cheap currency, earnings upgrades, foreign buying and a potential interest rate cut as inflation eases are all reasons to remain upbeat on Malaysia, Christopher Wood, CLSA Ltd.'s Hong Kong-based global equity strategist said May 23.
