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Malaysian Shares End Week Lower, Shrugging Off Regional Gains; Oppstar's Shares Rally 8%

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Malaysian blue-chip index erased gains to end the week in red, bucking a positive performance of its regional peers.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 0.23 points to end 0.01% lower at 1,736.48.

In corporate news, shares of Oppstar (KLSE:OPPSTAR) jumped about 8% on today's close after its unit, Oppstar Technology, received a letter of offer for the Compute Subsystem Access Token under the Malaysian Investment Development Authority (MIDA),

Telekom Malaysia's (KLSE:TM) attributable profit declined to 365.5 million ringgit in the second quarter from 403.0 million ringgit a year ago. Earnings per share contracted to 0.095 ringgit from 0.105 ringgit a year earlier, the telecom services provider said. Shares dropped 4% on Friday's close.

Shares of Milux (KLSE:MILUX) gained over 1% on close after Bursa Malaysia approved the listing and quotation of its 220.6 million new shares to be issued for its proposed acquisition. Earlier, Milux signed a conditional deal to acquire 100% of Movon for 150 million ringgit, to be satisfied via issuance of 220.6 million new Milux shares at 0.68 ringgit each.

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