MARKET DEVELOPMENT
Sime, Malaysian Planters Slump After Palm Oil Prices Decline
Sime, Malaysian Planters Slump After Palm Oil Prices Decline
04/10/2011 (Bloomberg) - Sime Darby Bhd. fell the most in two weeks in Kuala Lumpur trading, leading a slump in Malaysian plantation stocks after palm oil prices slid.
Sime lost 4 percent to 8.10 ringgit at 10:34 a.m. local time, set for its steepest drop since Sept. 15. Kuala Lumpur Kepong Bhd. lost 3.9 percent to 20.28 ringgit and IOI Corp. declined 3.4 percent to 4.49 ringgit. Palm oil dropped as much as 2.7 percent to 2,827 ringgit per metric ton.