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Malaysian Shares End in Green on Friday on Upbeat Economic Data

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Malaysian shares ended in the green on Friday, snapping yesterday's losses, on upbeat economic data.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 13.85 points to end 0.8% lower at 1,691.49.

In economic news, Malaysia's unemployment rate held steady at 3% in May, according to data released by the Department of Statistics Malaysia. The reading was in line with Trading Economics' forecast of 3% and was unchanged from April.

Malaysia's retail trade sales increased 7.2% year over year to 71.9 billion ringgit in May, according to data from the Department of Statistics Malaysia. The growth pace was faster than the 6.3% expansion recorded in the previous month and beat the Trading Economics forecast of 6% growth.

Lianson Fleet (KLSE:LFG) unit Lianson Fleet agreed to acquire two Ultramax-class bulk carriers for $52.3 million. The vessels, MV Tian Mu Shan and MV Yan Dang Shan, are being acquired from unrelated Chinese sellers.

Real estate developer LBS Bina Group (KLSE:LBS) has raised 150 million Malaysian ringgit through the third tranche of its Sustainability Sukuk Wakalah program. Shares ended flat on Friday's close.

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