Malaysian Shares End in Red on New US Tariffs; Techna-X's Shares Drop 7%

MT Newswires Live

Mar 06

Malaysian shares pared gains to end in red on Thursday, as investor sentiment weakened following new U.S. tariff measures on major trading partners, including Mexico, Canada, and China.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 5.51 points to end 0.35% lower at 1,558.91. The day range was between 1,554.85 and 1,569.43.

In corporate news, shares of Techna-X (KLSE:TECHNAX) slumped about 7% on close after it proposed a private placement of up to 10% of the total issued shares of the company to third-party investors. The intelligent digital ecosystem and energy storage solutions provider will determine the issue price and other details later.

Shares of WCT (KLSE:WCT) slid about 2% after it secured approval from Malaysia's Securities Commission for Paradigm Real Estate Investment Trust (REIT) to operate in the regulated activity of fund management in relation to asset management.

Shares of Kerjaya Prospek Property (KLSE:KPPROP) gained over 2% after it disclosed plans of issuing up to 324.9 million ringgit worth of eight-year, 4.2% redeemable convertible unsecured loan stocks (RCULS).

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The day range was between 1,554.85 and 1,569.43.In corporate news, shares of Techna-X (KLSE:TECHNAX) slumped about 7% on close after it proposed a private placement of up to 10% of the total issued shares of the company to third-party investors. 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