Malaysian Shares Rebound Amid Hopes of De-escalation in Middle East

MT Newswires Live17:51

Malaysian stocks ended the session higher on Friday amid a mixed regional performance, on hopes for a de-escalation of the Middle East conflict.

The FTSE Bursa Malaysia KLCI gained 1.76 points to end 0.1% higher at 1,712.65. The day range was between 1,708.45 and 1,716.28.

In economic news, Malaysia's producer price index (PPI) contracted by 3.4% year on year in February, extending the 2.9% decline in January, the Department of Statistics Malaysia reported. The PPI measures the average change in prices charged by domestic producers for goods and services.

Malaysia's terms of trade rose 5.7% annually to 124.9 points in February from 118.2 points a year earlier, the Department of Statistics Malaysia said. Malaysia's export unit value index edged down 0.01% in February from a month earlier, while the import unit value index declined 0.3% during the month.

In corporate news, Water metering products supplier George Kent (Malaysia) (KLSE:GKENT) raised 80 million ringgit in nominal value under its Sukuk Wakalah Program. Shares ended flat today.

T7 Global (KLSE:T7GLOBAL) also closed flat on Friday after it proposed a private placement of up to 10% of its total shares to third-party investors.

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