Malaysian Stocks Continue Losing Streat Post-Holiday Amid Rising Middle East Tensions
Malaysian shares resumed their downward trajectory on Thursday as market participants returned from a mid-week national holiday, as geopolitical escalations in the Middle East triggered broad-based institutional selling.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, fell 14.09 points to end 0.8% lower at 1,684.93.Reports of air strikes involving U.S. and Iranian forces on Thursday further fueled market anxieties regarding an intensifying conflict in the Middle East.In corporate news, Greenyield (KLSE:GREENYB) reported a rubber output of 153,850.7 kilograms. Shares closed 8% higher.Elsewhere, Ho Wah Genting (KLSE:HWGB) recorded an attributable loss of 2.1 million ringgit in the quarter ended March 31, wider than 1.8 million ringgit a year prior, with revenue falling to 41.4 million ringgit from 53.8 million ringgit. Shares were up nearly 5% at close.
