Malaysian shares pared gains of the previous session to end in the red territory on Thursday. The investors turned cautious amid global economic uncertainties.
The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 2.11 points to end 0.13% lower at 1,586.60. The day range was between 1,583.45 and 1,588.29.
In local news, Malaysia's producer price index (PPI) edged up 0.8% year on year in January, versus a 0.5% rise in the preceding month, the Department of Statistics Malaysia said. The PPI measures the average change in the prices charged by businesses in the manufacturing industry.
In corporate news, shares of Sapura Energy (KLSE:SAPNRG) jumped about 17% after its drilling arm, Sapura Drilling, bagged multiple deals worth a total 3.2 billion ringgit for tender assist drilling rig services.
Shares of Press Metal Aluminium (KLSE:PMETAL) gained 5% after its profit attributable to equity holders of the parent surged 39% to 445.3 million ringgit in the fourth quarter of 2024 from 321.4 million ringgit a year earlier.
Shares of Sunway (KLSE:SUNWAY) gained over 2% on close after its profit attributable to owners of the parent rose 26% to 335.5 million ringgit in the fourth quarter of 2024 from 266.0 million ringgit a year earlier.
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