Malaysian Shares End in Red on Profit-Taking Activities; Cape EMS's Shares Gain 3%
Malaysian shares ended in the red, reversing gains of the past three sessions, due to profit-taking activities.The investors could not find positive cues amid waning hopes of US-Iran truce, although US President Donald Trump extended a ceasefire with Iran at Pakistan's request.The FTSE Bursa Malaysia KLCI shed 4.94 points to end 0.3% lower at 1,710.39. The day range was between 1,705.11 and 1,720.46.In corporate news, Concrete Engineering Products (KLSE:CEPCO) received an unconditional mandatory take-over offer from YTL Cement (KLSE:YTLCMT), to sell its remaining shares not already owned by the latter. The offer is priced at 2.60 ringgit per share and will be fully in cash.Shares of Cape EMS (KLSE:CEB) rose over 3% on Wednesday's close after it established a manufacturing and engineering platform through a joint venture with New Grand Tech (HK). The platform, GrandCape, will focus on flexible flat cables, AI data center interconnects, and battery energy storage system solutions.Meanwhile, Agmo (KLSE:AGMO) completed its transfer of listing to the Main Market from the ACE Market of Bursa Malaysia. Shares ended flat today.