Malaysian Shares Extend Gains, Bucking Regional Losses
Malaysian shares ended in the green on Monday, extending Friday's gains. The investors remained upbeat, bucking a downbeat regional trend.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 6.95 points to end 0.4% higher at 1,698.44.In corporate news, Low-cost airline AirAsia X (KLSE:AAX) changed its name to AirAsia Group, effective July 14. Meanwhile, the company's ordinary shares moved to the stock short name AAGB from AAX. Shares slid about 2% on Monday's close.Lim Seong Hai Capital's (KLSE:LSH) subsidiary, Astana Setia Development, signed a sale and development agreement with Railway Assets for two land parcels in Subang Jaya, Malaysia. Shares slid over 1% on today's close.Sime Darby Property's (KLSE:SIMEPROP) subsidiary, SDP Klang, had a 78.6 million ringgit compensation award set aside by the Shah Alam High Court on July 10, following an objection by highway authority Lembaga Lebuhraya Malaysia. The original 2015 compensation package for the compulsory acquisition of land for the West Coast Expressway totaled 169.3 million ringgit.
