Malaysian Shares End in Red Despite Slower Inflation, Upbeat Trade Data

MT Newswires Live10-19

Malaysian shares slid for a third consecutive session on Monday, as the sentiment was downbeat despite upbeat trade data and softer inflation in the country.

The blue-chip index FBM KLCI shed 0.8% or 12.01 points to end lower at 1,595.75.

Malaysia's trade surplus expanded 20.1% in September, according to data from the Department of Statistics Malaysia (DoSM). The surplus growth was slower than the 24.7% recorded in August.

Total exports grew 54.5% year-over-year to 215.1 billion ringgit, faster than the 45.5% increase in the prior month. Imports rose 52.7% to 62.6 billion ringgit, versus the 41.1% increase in August.

Malaysia's headline consumer price index (CPI) rose 1.8% year over year in September, according to the DoSM data. The reading is lower than a 1.9% expansion recorded in the previous month.

In corporate news, shares of Khee San (KLSE:KHEESAN) rose about 11% on close after it signed a memorandum of understanding with the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM), and Dr. Paul Lim Pang Kiam to develop a digitalization program for independent sundry goods retailers.

Uzma (KLSE:UZMA) plans to seek shareholders' approval for the proposed renewal of authority to purchase up to 10% of its total number of issued shares. Shares gained over 1% on Monday's close.

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