Malaysian Shares Rebound on Week's Close; Crescendo's Shares Rally 9% (19 Jan 2024)

Posted by Clara Mellor on 02:27 with No comments

Malaysian shares the week in the green zone on Friday, snapping a three-day losing streak. The index opened lower but kept adding gains as the session progressed.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 7.19 points to end 0.49% higher at 1,486.37.

In economic news, Malaysia's economy is expected to grow 3.4% annually in the fourth quarter of 2023, driven by the services sector, official advance estimates showed.

Malaysia's trade came in at 2.64 trillion in 2023, topping 2 trillion ringgit for the third straight year, said the country's Investment, Trade and Industry Ministry (Miti). The country booked a trade surplus of 214.1 billion ringgit.

In corporate news, shares of the property developer Crescendo CCRESNDO jumped about 9%, and those of the pesticides and related agrochemical products manufacturer gained 8% today.

Meanwhile, shares of the bottled water maker Spritzer SSPRITZER rose about 7% on Friday's close.



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