Malaysia's Energy Export Status Becomes More Prominent, Boosting Petrochemical Giants to Top Asian Benchmark

Golden Ten Data reported on March 31 that due to concerns about the long-term closure of the Strait of Hormuz driving up global fertilizer prices, shares of Malaysian petrochemical producer Kossan Petrochemical have doubled this month. Analysts predict that if the waterway remains closed, the stock price will rise further. Since the outbreak of the Iran war, the stock has surged a total of 102%, making it likely to top the MSCI Asia benchmark index in gains by the end of this month. In contrast, the Asian benchmark has fallen by more than 13%. According to data, at least seven brokers have raised their ratings for Kossan Petrochemical this month. As Malaysia is one of the few net energy exporters in Asia, its stock market has stood out while the Iran war has disrupted global markets. Although foreign investors have sold off shares in most other emerging Asian markets, they recorded net purchases of USD 25.3 million in Malaysian stocks in March.