Malaysian Shares Maintain Five-Day Winning Streak; Capital A, AirAsia X Drop 3%

MT Newswires Live01-15

Malaysian stocks gained slightly on Thursday, extending the four-day winning streak.

Investor sentiment was boosted by positive regional cues and a stronger risk appetite, keeping the index at a multi-year high level of above 1,700.

The FTSE Bursa Malaysia KLCI gained 4.25 points to end 0.3% higher at 1,715.16. The day range was between 1,701.83 and 1,715.16.

In corporate news, shares of Capital A (KLSE:CAPITALA) dropped about 3% on today's close after it sold 17 million shares in AirAsia X (KLSE:AAX) for 28.1 million ringgit. The disposal reduces Capital A's stake in AAX from 12.77% to 8.96%.

Shares of long-haul carrier AirAsia X (KLSE:AAX) also fell about 3% on Thursday's close after the company clarified a media report that stated it is exploring a possible name change, stating it has yet to make any decision.

Whereas, shares of Kerjaya Prospek Group (KLSE:KERJAYA) rose over 2% on close after its unit Kerjaya Prospek (M) secured a 201.3 million ringgit building contract from Greencove. The agreement covers the construction of two 39-storey apartment blocks in Selangor, Malaysia.

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