Malaysian Stocks End Week in Black; Shares of Telekom Malaysia Rally 9%

MT Newswires ·  Mar 15 17:50

Malaysian shares ended in the green zone on Friday, extending gains from the previous session as investors remained upbeat.

The index seemed unimpacted by higher-than-expected US inflation, which dragged other Asian shares down.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 9.08 points to end 0.59% higher at 1,552.83. The day ranged between 1,535.47 and 1,552.83.

In economic news, Malaysia kept its export tax for crude palm oil unchanged at 8% for April, but raised its per-ton reference price to 3,958.58 ringgit from 3,793.94 a month prior, according to a circular on the Malaysian Palm Oil Board website.

In corporate news, shares of the telecommunications firm Telekom Malaysia (KLSE:TM) jumped about 9%, and those of the IT service management company Heitech Padu (KLSE:HTPADU) rose 7% today.

Meanwhile, shares of the precision components manufacturer Kobay Technology (KLSE:KOBAY) rose nearly 7% on Friday's close.

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