Regional Gloom, Stalled US-Iran Talks Drag Malaysian Shares Lower for Fourth Consecutive Session
Malaysian shares fell for a fourth consecutive session on Monday, mirroring regional gloom as stalled U.S.-Iran talks continued to weigh on market sentiment.The FTSE Bursa Malaysia KLCI shed 12.51 points to end 0.7% lower at 1,727.71. The day range was between 1,727.71 and 1,742.60.In local news, Malaysia has rolled out a 5 million ringgit ($1.3 million) relief package to support its aviation industry as airlines face escalating operational costs linked to tensions in the Middle East, Bloomberg News reported.In corporate news, Real estate developer Gold Li (KLSE:GOLDLI) made its debut on Bursa Malaysia's ACE Market on Monday, opening at 0.12 ringgit, below its initial public offering (IPO) price of 0.205 ringgit, signaling a soft listing start for the property group.Shares of Censof (KLSE:CENSOF) dropped nearly 3% at Monday's close after its unit Century Software (Malaysia) bagged a deal worth 17.8 million ringgit from Majlis Agama Islam Wilayah Persekutuan (MAIWP). The deal involves building a financial management system compliant with government accounting standards and Islamic accounting frameworks.Gas Malaysia (KLSE:GASMSIA) will commit 49.8 million ringgit toward the proposed liquefied natural gas (LNG) re-gasification terminal in Kedah, Malaysia. Shares ended about 1% lower on today's close.