Malaysian Shares Edge Lower for Fifth Session as April Inflation Steps Up
Malaysian shares fell for a fifth straight session on Tuesday, weighed down by accelerating domestic headline inflation data and and cautious investor positioning.The FTSE Bursa Malaysia KLCI shed 0.44 points to end 0.03% lower at 1,727.27. The day range was between 1,726.13 and 1,734.32.In economic news, Malaysia's consumer price index rose 1.9% annually in April, faster than 1.6% in March, the Department of Statistics Malaysia said. The latest reading was slower than the 2.1% growth forecast by Trading Economics. Core inflation, which excludes volatile items, edged down to 2% from 2.1% a month prior, data showed.Malaysia booked nearly 89.4 million ringgit in potential sales during its participation in the Franchise and License Expo Indonesia (FLEI) 2026 held in Jakarta, Malaysia External Trade Development (MATRADE) reported.In corporate news, shares of GFM Services (KLSE:GFM) dropped about 6% at Tuesday's close after it said it will seek shareholders' approval to renew the share buyback authority in the company's upcoming annual general meeting.Meanwhile, Skyechip (KLSE:SKYECHIP) is slated to list on Wednesday on Bursa Malaysia's Main Market under the stock code 5357 and name SKYECHIP. The semiconductor company will debut under the technology sector with an enlarged issued share capital of 405.5 million ringgit following its public listing exercise.