Malaysian Shares Maintain Five-Day Losing Streak; Metronic Global Plunges 25%

MT Newswires ·  May 30 18:04

Malaysian shares finished lower for a fifth straight session to end in the red zone on Thursday. The investors remained cautious amid concerns about U.S. interest rates.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 1.09 points to end 0.07% lower at 1,604.26.

The index opened comparatively lower. The day ranged between 1,602.32 and 1,608.84.

In other news, U.S. tech behemoth Google earmarked a 9.4 billion ringgit investment in Malaysia to house its first data center and Google Cloud region, said the nation's Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz. the move will create 26,500 jobs across the country and will generate a total economic impact worth 15.04 billion ringgit.

In corporate news, shares of the software company Metronic Global (KLSE:MTRONIC) slumped 25%, and those of the hotel and travel company Avillion (KLSE:AVI) dropped over 7% on Thursday's close.

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