Malaysian shares rebounded on Thursday, as investors reacted to renewed optimism over a possible de-escalation in hostilities between the US and Iran.
The FTSE Bursa Malaysia KLCI gained 5.50 points to end 0.3% higher at 1,695.21. The day range was between 1,682.88 and 1,696.39.
In economic news, Malaysia's economy expanded by 5.3% in the first quarter, easing from the 6.3% growth recorded in the previous quarter, according to advance estimates from the Department of Statistics.
Meanwhile, Malaysia's consumer price index rose 1.7% annually in March, up from 1.6% in February, the Statistics Department said. The latest reading was below the 1.8% growth forecast by Trading Economics.
In local news, Malaysia will introduce the B15 biodiesel blend gradually to prevent disruptions to the existing fuel supply chain, The Star reported, citing Economy Minister Akmal Nasrullah Mohd Nasir. He said the gradual approach is necessary to ensure blending operations can be adjusted smoothly, particularly at fuel blending centres, without requiring major infrastructure upgrades at the initial stage.
In corporate news, shares of Gamuda (KLSE:GAMUDA) gained over 1% on Friday's close after it secured a deal worth 1.72 billion ringgit to build a hyper-scale data centre in Port Dickson, Negeri Sembilan, Malaysia, for a US-headquartered multinational technology company.