Plantation lifts Malaysia's main stock index to record high

PETALING JAYA: The key FTSE Bursa Malaysia KLCI (FBM KLCI) powered to a new record as plantation stocks lifted the 30-stock barometer by 12.31 points or nearly 1% to 1,662.06 in mid-afternoon trade.

At the close, the index gained 11.72 points or 0.71% to 1,661.47 after news that the Cabinet could decide as early as today on a proposal to slash export taxes for palm oil, giving a fillip to blue-chip planters.