Reuters: Global Markets: Wilmar, other commodities stocks rally on Fed stimulus

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Wilmar, other commodities stocks rally on Fed stimulus Sep 14th 2012, 01:18 SINGAPORE | Thu Sep 13, 2012 9:18pm EDT SINGAPORE (Reuters) - Shares of Singapore palm oil producer Wilmar International Ltd (WLIL.SI) and other commodities firms jumped on Friday as investors bought stocks that could benefit from the United States Federal Reserve's move to inject more money into the system. Around 0115 GMT, Wilmar shares were up 4 percent, Noble Group Ltd (NOBG.SI) gained more than 3 percent and Olam International Ltd (OLAM.SI) advanced 2 percent. Singapore's benchmark Straits Times Index .FTSTI was 0.9 percent higher. The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the U.S. economy until it saw a sustained upturn in the weak jobs market. "Basically people are piling into all the high-beta stocks. If the STI is going up, higher-beta stocks will outperform the STI," said Carey Wong, an analyst at OCBC Investment Research.

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