Malaysian shares snapped the winning streak to end lower on the week's open, despite positive job data.
The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 0.96 points to end 0.06% lower at 1,589.95. The day range was between 11,584.20 and 1,590.49.
In local news, Malaysia's unemployment edged down to the lowest rate in almost a decade to 3.1% in December 2024, from 3.2% a month earlier, according to data released by the Department of Statistics Malaysia. The number of unemployed persons in Malaysia edged down 0.4% to 544,300 in December, versus 546,700 in the preceding month.
In corporate news, shares of Matrix Concepts (KLSE:MATRIX) jumped about 5% on close after it proposed a bonus issue of up to 625.7 million new shares, based on one bonus share for every two existing shares.
Shares of Kinergy Advancement (KLSE:KAB) also gained over 3% after its unit KAB Energy agreed to acquire around 1.9 million shares, representing 47.5% stake, in independent power producer Jati Cakerawala for 35 million ringgit.
Shares of SSF Home Group (KLSE:SSF) slid over 1% after it signed a memorandum of understanding with Rumah Ibu to collaborate on the Perak State Organized Village Plan, dubbed Rancangan Perkampungan Tersusun (RPT) Negeri Perak.
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