Malaysian Stocks Continue Losing Streat Post-Holiday Amid Rising Middle East Tensions

MT Newswires Live05-28 17:51

Malaysian shares resumed their downward trajectory on Thursday as market participants returned from a mid-week national holiday, as geopolitical escalations in the Middle East triggered broad-based institutional selling.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, fell 14.09 points to end 0.8% lower at 1,684.93.

Reports of air strikes involving U.S. and Iranian forces on Thursday further fueled market anxieties regarding an intensifying conflict in the Middle East.

In corporate news, Greenyield (KLSE:GREENYB) reported a rubber output of 153,850.7 kilograms. Shares closed 8% higher.

Elsewhere, Ho Wah Genting (KLSE:HWGB) recorded an attributable loss of 2.1 million ringgit in the quarter ended March 31, wider than 1.8 million ringgit a year prior, with revenue falling to 41.4 million ringgit from 53.8 million ringgit. Shares were up nearly 5% at close.

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