FINWIRES · TerminalLIVE
FINWIRES

Malaysian Shares Rebound on Hopes of US-Iran Diplomatic Progress; Puncak Niaga's Shares Gain 3%

-- Malaysian shares rebounded on Thursday, tracking broader regional gains, as investors reacted to renewed optimism over a possible de-escalation in hostilities between the US and Iran.

The FTSE Bursa Malaysia KLCI gained 6.29 points to end 0.4% higher at 1,689.71 The day range was between 1,682.81 and 1,690.83.

In local news, Malaysia will prioritize supplying Australia with surplus fuel from state energy firm Petronas as part of efforts to strengthen energy security amid disruptions linked to the Middle East war, Reuters reported, citing Prime Minister Anwar Ibrahim.

Malaysia's state energy firm Petronas said fuel supply at all its stations is secured through the end of June, even as it continues to manage its supply chain amid global energy market disruptions due to the Iran-US war, Reuters reported.

In corporate news, shares of Puncak Niaga (KLSE:PUNCAK) gained about 3% on Thursday's close after it reported that fresh fruit bunches (FFB) production for March stood at 1,615.40 metric tonnes.

Meanwhile, Golden Destinations Group (KLSE:GDGROUP) has been officially listed on Bursa Malaysia, marking its debut on the ACE Market on Wednesday. Following the initial public offering, the company's enlarged issued share capital stands at 1 billion units, amounting to about 118.1 million ringgit.

Related Articles

Australia

Jefferies Raises Quest Diagnostics Price Target to $225 From $220

Quest Diagnostics (DGX) has an average rating of overweight and mean price target of $219, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $204.33, Change: $+8.02, Percent Change: +4.09%

$DGX
Australia

Truist Securities Cuts Tractor Supply Price Target to $44 From $55, Hold Rating Kept

Tractor Supply (TSCO) has an average rating of overweight and mean price target of $56.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.92, Change: $-4.90, Percent Change: -10.92%

$TSCO
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, while the Dow Jones US Utilities Index fell 1.3%.Front-month West Texas Intermediate crude oil was rising 4.8% to $93.94 a barrel, and the global benchmark Brent crude contract was advancing 4.4% to $99.68 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$HAL