Malaysian Shares End in Red Ahead of US Inflation Report; Dataprep's Shares Drop About 6%
Malaysian shares erased gains from the previous session to end in losses on Wednesday as the investors remained cautious ahead of ahead of U.S. inflation report due today.
Losers outnumbered gainers.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 20.55 points to end 1.24% lower at 1,639.80. The day range was between 1,638.90 and 1,654.38.
In local news, Malaysia's Deputy Prime Minister said Malaysia and China are exploring new areas of cooperation in the manufacture of unmanned aerial vehicles (UAV) to promote made-in-Malaysia products globally.
In corporate news, shares of Dataprep (KLSE:DATAPRP) slumped about 6% today after it inked a memorandum of collaboration with NEOJAPAN's (TYO:3921) unit Neoreka Asia. Under the tie-up, both companies will partner in the ICT field, with Neoreka becoming an authorized reseller of DESKNET'S NEO, a web-based platform for enterprise information sharing.
Shares of RHB Bank (KLSE:RHBBANK) slid over 1% on close after it was sued by Tokio Marine Life Insurance Malaysia over a bancassurance arrangement signed in 2014.
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