Malaysian Shares End in Red Extending Week's Losses; Compugates Shares Slump 25%

MT Newswires Live06-21

Malaysian shares ended in losses on Friday for the fifth straight session, as investors sentiment remained downbeat throughout the week.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 2.32 points to end 0.15% lower at 1,590.37.

The day range was between 1,590.00 and 1,598.16. Losers outnumbered gainers.

In economic news, Malaysia booked approved foreign investments worth 83.7 billion ringgit in the first quarter, higher than 74.1 billion ringgit a year prior, according to the Malaysian Investment Development Authority (Mida). Of the total, 56.2%, or 47 billion ringgit were secured from foreign sources.

Elsewhere, Research firms OCBC, Kenanga Research and Hong Leong Investment Bank reiterated their forecasts on Malaysia's gross domestic product (GDP) growth at 4.2% to 4.8% for 2024.

Shares of renewable energy solutions provider Compugates Holdings (KLSE:COMPUGT) slumped 25%, while those of the construction company Rekatech Capital (KLSE:REKATECH) dropped 23% on Friday's close.

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