The benchmark Kuala Lumpur Composite Index rose for a third day, gaining 18.62 points to close at 1,009.36, the highest level since October 3.
The gauge climbed above the 1,000 level for the first time since October 7. May index futures added 2.1 per cent to 1,014.00.
Six stocks climbed for each one that fell on the 100-member gauge. The market was shut on May 1 for a public holiday.
In the market, 1.7 billion shares changed hands, more than double the three-month daily average of 699 million shares.
IOI Corp, Malaysia’s second biggest palm oil producer, rose 2.8 per cent to RM4.42, the highest level since September 26. Tradewinds Plantation Bhd jumped 6.9 per cent to RM1.87, the most since November 10. Hap Seng Plantations Bhd climbed 4.2 per cent to RM1.97, the largest increase since January 5.
Palm oil futures in Malaysia jumped 7.2 per cent to RM2,781 a metric ton, set for the biggest gain since January 6.
KFC Holdings (Malaysia) Bhd gained 1.5 per cent to RM7, the largest increase since April 17. Malaysia’s biggest fast-food operator said it plans to spend US$6 million on 12 new outlets in India to tap demand in the world’s second most populous country. The company will open 10 outlets in Mumbai and two in Pune in June, it said in a statement.
Malaysian Pacific Industries Bhd, the nation’s largest listed semiconductor company, surged 5.8 per cent to RM5.10, the highest close since March 13. Maybank Investment Bank Bhd said investors should buy the stock as it is on a “very firm upward trend.” The stock’s upside target levels are RM5.25 and RM5.40, it said. - Bloomberg