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Malaysian Blue-Chip Index Ends in Red Despite Upbeat Construction Data; K-One Technology Shares Drop 3%

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Malaysian shares erase gains to end in the red zone Thursday, despite a higher-than-expected construction data. The investors could not find positive cues amid a mixed regional performance.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 6.90 points to end 0.4% lower at 1,734.71.

In economic data, Malaysia's construction activity rose 8.8% year over year in the second quarter of 2026, picking up from an 8.5% increase in the first quarter, according to data from the Department of Statistics Malaysia on Thursday. The latest reading far exceeded the Trading Economics forecast for a 4% growth.

In corporate news, shares of K-One Technology (KLSE:K1) dropped over 3% on close after it proposed to undertake a capital reduction and repayment exercise to facilitate the distribution of a special dividend of up to 75 million ringgit to its shareholders.

Whereas, shares of MN (KLSE:MNHLDG) unit, MN Power Transmission, secured a 71 million ringgit contract from Tenaga Nasional to set up a 132/33kV transmission intake substation in Cameron Highlands.

Shares of Selangor Dredging (KLSE:SDRED) gained 1% on close after its unit SDB Subang Development has agreed with Hectare Square to extend the completion period for its land acquisition by another 12 months.

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