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Malaysian Stocks Snap Four-Day Winning Streak on Profit-Taking; Pan Malaysia's Shares Slide Over 11%

MT Newswires ·  Mar 13 17:26

Malaysian shares ended in red territory on Wednesday, paring gains from the previous four sessions due to profit-taking activities.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 16.43 points to end 1.06% lower at 1,538.13. The day ranged between 1,536.76 and 1,544.74.

In economic news, the sales value of Malaysia's wholesale and retail trade rose 5.4% year over year to 142.4 billion ringgit in January, thanks to positive contributions from all sectors, according to data from the country's statistics department on Wednesday.

In corporate news, shares of property holding firm Pan Malaysia Holdings (KLSE:PMHLDG) fell over 11%, while those of IT service management company Heitech Padu (KLSE:HTPADU) slid 3%.

Meanwhile, shares of iquefied petroleum gas retailer and marketer Petronas Dagangan (KLSE:PETDAG) dropped more than 2% at market close.

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