Malaysian Shares Open Week in Losses; OSK Holdings Drops 2%

MT Newswires Live

Jan 13, 2025

Malaysian shares erased gains of the previous session to end in the red on Monday.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 16.82 points to end 1.05% lower at 1,585.59. The day range was between 1,578.97 and 1,599.36.

In corporate news, the sales value of Malaysia's wholesale & retail trade rose 4.7% year on year to 149.3 billion ringgit in November 2024, according to the data released by the Department of Statistics. The positive growth was contributed by all sub-sectors: a 5.8% rise in retail trade, a 4.7% increase in wholesale trade, a 1.4% rise in motor vehicles.

In corporate news, shares of OSK Holdings (KLSE:OSK) dropped about 2% on close after its unit OSK Amanjaya signed separate deals with several vendors to acquire four pieces of lands in Kedah, Malaysia.

Moreover, AME REIT (KLSE:AMEREIT) plans to establish an Islamic medium-term bonds program with a value of up to 1 billion ringgit. The company, through a special purpose vehicle, AME REIT Sukuk, filed relevant documents relating to the program with the Securities Commission Malaysia.

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