Malaysian Shares Snap Winning Streak on Renewed Regional Tensions; CPE Technology Jumps 11%

MT Newswires Live07-15 18:03

Malaysian shares ended in the red on Wednesday, snapping a winning streak amid a mixed regional performance. Investors could not find positive cues as the renewed US-Iran hostilities and unrest in the Middle East reignited uncertainty.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 6.18 points to end 0.4% lower at 1,713.76.

In corporate news, shares of CPE Technology (KLSE:CPETECH) rallied about 11% on today's close after it signed a share purchase agreement to establish a joint venture with Japan's Kanekita. Under the agreement, the two parties will manufacture and sell materials and products using passivation treatment technology.

Shares of TSR Capital (KLSE:TSRCAP) jumped over 11% on Wednesday's close after its subsidiary, TSR Bina, secured a 130 million ringgit contract for the construction and completion of earthworks and other associated works for the proposed widening of the Kuala Lumpur-Karak Highway.

Titijaya Land (KLSE:TITIJYA) said the Shah Alam High Court has granted its unit, Shah Alam City Centre, leave to proceed with a judicial review challenging a 9.6 million ringgit additional tax assessment imposed by Malaysia's Inland Revenue Board (IRB). Shares gained over 2% on Wednesday's close.

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