Malaysian Shares Rebound to End Week in Black; BSL's Shares Surge 50%

MT Newswires Live

Nov 22, 2024

Malaysian shares ended in the green territory on Friday, snapping the three-session losing streak. The investors turned optimistic despite the higher-than-expected inflation rate in October.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 1.10 points to end 0.07% higher at 1,589.78. The day range was between 1,587.74 and 1,593.85.

In economic news, Malaysia's consumer price index rose 1.9% year on year in October, slightly quicker than the 1.8% rise in the preceding month, and above the market forecast of a 1.8% rise, the Department of Statistics Malaysia said.

Today's gains were led by metal stamping company BSL (KLSE:BSLCORP) with shares surging 50% on the week's close, followed by an over 33% rise in the shares of Metronic Global (KLSE:MTRONIC).

In corporate news, Supreme Consolidated Resources' (KLSE:SUPREME) shares will be suspended from trading on the LEAP Market of Bursa Securities on Monday. The company's entire issued shares will be delisted from the LEAP Market on Friday, Nov. 29 ,under the LEAP Listing Requirements

Meanwhile, Marine & General (KLSE:M&G) acquired the remaining 49% equity interest it does not already own in Jasamerin Energy Ventures.

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The investors turned optimistic despite the higher-than-expected inflation rate in October.</p><p>The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 1.10 points to end 0.07% higher at 1,589.78. The day range was between 1,587.74 and 1,593.85.</p><p>In economic news, Malaysia's consumer price index rose 1.9% year on year in October, slightly quicker than the 1.8% rise in the preceding month, and above the market forecast of a 1.8% rise, the Department of Statistics Malaysia said.</p><p>Today's gains were led by metal stamping company BSL (KLSE:BSLCORP) with shares surging 50% on the week's close, followed by an over 33% rise in the shares of Metronic Global (KLSE:MTRONIC).</p><p>In corporate news, Supreme Consolidated Resources' (KLSE:SUPREME) shares will be suspended from trading on the LEAP Market of Bursa Securities on Monday. 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