Shares of Wilmar International <WLIL.SI>, Golden Agri-Resources <GAGR.SI> and Olam International <OLAM.SI> surged on Thursday on returning risk appetite among investors for commodities play and a weak U.S. dollar.

Shares of Wilmar gained as much as 5.4%, Golden Agri was up as much as 3.1% and Olam rose as much as 3.8%.

 

"Risk has returned and commodities and resource stocks have performed strongly. Palm oil prices have been going up as well," said a local trader.

 

Another local trader said that the weak U.S. dollar was also a factor. The dollar extended its broad slide, hitting a 10-month low and dropping below the technical support at its January 2010 low of 76.601.

 

At 0311 GMT, shares of Wilmar were trading at $6.37 on a volume of 20 million shares. Golden Agri shares were at $0.665 with 91 million shares changing hands, and Olam at $3.27 on a volume of 7.6 million shares.