Malaysian Shares Snap 7-Day Slump to End Week in Green; JF Technology Rises 5%

MT Newswires Live05-22 17:46

Malaysian shares rebounded on Friday, snapping a seven-session losing streak, mirroring regional upward momentum amid macro optimism that a Pakistan-mediated diplomatic intervention could help de-escalate geopolitical flashpoints across the Middle East.

The FTSE Bursa Malaysia KLCI gained 4.31 points to end nearly 0.3% higher at 1,712.67. The day range was between 1,710.30 and 1,715.71.

In local news, Malaysia is moving to strengthen its energy buffer with the goal of extending supply security through December, as global disruptions continue to strain economic and energy networks, The Star reported, citing Deputy Prime Minister Fadillah Yusof.

In corporate news, shares of JF Technology (KLSE:JFTECH) rose over 5% on today's close after it booked a record quarterly revenue of 23.2 million ringgit in its fiscal third quarter. Meanwhile, nine-month revenue amounted to 59.3 million ringgit, marking its strongest performance to date.

Shares of Telekom Malaysia (KLSE:TM) gained about 2% on Friday's close after its profit attributable to shareholders fell to 321.5 million ringgit in the first quarter, from 401.3 million ringgit a year earlier.

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