Alexa

Malaysian shares lower on profit-taking

Malaysian shares lower on profit-taking

Malaysian shares fell Friday, snapping a nine-day gain, as late-bargain hunting trimmed earlier losses.
The Kuala Lumpur Composite Index lost 0.8 percent to 1,170.35 points, off a low of 1164.91.
Dealers said the market was taking a brief respite after rising for nine consecutive days but the profit-taking was fairly well-absorbed, suggesting the market could rise again next week.
Construction stocks bucked the trend on talk of new contracts to be secured, with Gamuda surging 8.1 percent to 6.65 ringgit, Zelan up 2 percent to 7.65 and Mudajaya gaining 3.8 percent at 2.20.
Among big caps, top bank Maybank shed 1.6 percent to 12.30 ringgit, casino operator Genting dipped 1.3 percent at 38 while banking group Bumiputra-Commerce and power utility Tenaga were flat at 9 and 12.20 respectively.


Updated : 2021-04-13 05:27 GMT+08:00