Malaysian Shares Pare Gains to End in Red; Sime Darby Rallies Over 6%

MT Newswires Live
Nov 27

Malaysian stocks erased gains from the previous session to end in the red, bucking a positive regional trend.

The FTSE Bursa Malaysia KLCI shed 7.04 points to end 0.43% lower at 1,617.46. The day range was between 1,615.97 and 1,629.26.

In economic news, Malaysia's producer price index (PPI) fell 0.1% year on year in October, easing from a 0.8% decline in the previous month, the Department of Statistics Malaysia said. The PPI measures the average change in prices charged by domestic producers for their goods and services.

In corporate news, shares of Sime Darby (KLSE:SIME) jumped over 6% on Thursday's close even after its profit attributable to owners plunged to 355 million ringgit in the fiscal first quarter ended Sept. 30 from 800 million ringgit a year earlier.

Shares of Axiata Group (KLSE:AXIATA) dropped over 2% on close after it incurred a loss attributable to owners for the third quarter at 27.4 million ringgit, versus a profit of 976.7 million ringgit in the year-ago period.

Shares of Hong Leong Financial Group (KLSE:HLFG) also slid over 1% after its profit attributable to owners slid to 841.3 million ringgit in the fiscal first quarter ended Sept. 30 from 847.7 million ringgit a year earlier.

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