SINGAPORE (Yosefardi) – Shares of plantation companies dragged down Singapore’s Straits Times Index by 0.55% Tuesday (Jan 14) morning.
Wilmar International drops 1.81%, while Golden Agri-Resources dropped 2.83% with substantial trading volume.
First Resources Ltd also down almost 2% on thin trading volume, while Indofood Agri-Resources down 1.18%. Bumitama Agri, a JV between IOI Corp and Harita Group, also down 1% on SGX.
Other than broad market sentiment, plantation shares were affected by falling crude palm oil (CPO) in the futures market.