Malaysian stocks continued their upward momentum on Friday, capping off the trading week higher.
The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 14.44 points to end 0.89% higher at 1,628.14. The day range was between 1,616.69 and 1,632.63.
In local news, Malaysia is set to hike its base electricity tariff by 14%, effective July 2025. The decision pushed shares of utility firm Tenaga Nasional (KLSE:TNB) to close 4% higher.
Meanwhile, shares of MYMBN (KLSE:MBN) slumped 8% after the company said it faces a temporary suspension of bird nest exports to China due to the Newcastle disease virus in Malaysia.
In corporate news, Lebtech (KLSE:LEBTECH) unit Lebtech Construction bagged a deal worth 10.8 million ringgit from Affizal Resources (M) to collaborate on water works in Selangor, Malaysia.
Meanwhile, Southern Cable Group (KLSE:SCGBHD) secured a deal worth 172.6 million ringgit for the supply and delivery of cables and conductors in East Malaysia.
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