Malaysian Shares Open Week in Green on Wall Street Gains; Compugates' Shares Surge 50%

MT Newswires ·  May 6 17:50

Malaysian shares ended higher for the third straight session on the week's open. The sentiment remained upbeat tracking overnight gains on Wall Street.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 7.80 points to end 0.49% higher at 1,597.39 at the close.

The index initially opened comparatively lower, but gained momentum throughout the trading session. The day ranged between 1,591.17 and 1,598.26

In other news, Bursa Malaysia (KLSE:BURSA) will host its flagship Bursa Marketplace Fair 2024 in Kota Kinabalu on May 11-12, marking the first event held in Sabah and Sarawak.

Elsewhere, foreign investors bought Malaysian securities worth 1.06 billion ringgit in the week ended May 3, jumping 3.6 times from the week earlier, said MIDF Research. The surge is attributable to foreign funds flowing into local markets, thanks to an increased risk appetite.

In other corporate news, shares of the electronic products trader and renewable energy solutions provider Compugates Holdings (KLSE:COMPUGT) surged 50% today, and those of Zen Tech International (KLSE:ZENTECH) rallied over 33% on Monday's close.

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