SINGAPORE Dec 11 Shares in Golden
Agri-Resources Ltd and Wilmar International
fell on Wednesday, weighed down by high palm oil stockpile in
Malaysia, making them among the worst performers on Singapore's
Wilmar fell more than 1 percent to a one-month low of
S$3.37, while Golden Agri shares fell 0.9 percent to S$0.55,
hovering above a six-week low of S$0.545 hit last week, after
data showed Malaysia's November palm oil stockpile rose to an
eight-month high on weaker exports.
"We expect near-term correction in palm oil prices, and
recommend investors to take profit, following the strong run
since the end of Sept. 13," DBS Vickers analysts wrote in a
Both Wilmar and Golden Agri shares have risen more than 15
percent from end of September to mid-November.
CIMB said it preferred Wilmar and First Resources Ltd
among Singapore-listed palm oil plays, adding that the
impact of the high stockpile should be partially offset by
possibly lower production in Malaysia in December.
Singapore's Straits Times Index was 0.3 percent
lower at 3,073.77 points by 0420 GMT, set for its seventh
straight session of losses -- the longest losing streak since