Malaysian Shares Extend Gains Ahead of Interest Rate Decision; Feytech's Shares Rise 6%
Malaysian shares ended in green on Tuesday, ahead of the interest rate decision later this week. The investor sentiment remained upbeat following the release of positive manufacturing data.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders, according to data released by S&P Global.The FTSE Bursa Malaysia KLCI gained 7.66 points to end 0.4% higher at 1,747.43. The day range was between 1,732.64 and 1,747.82.In local news, Malaysia's Health Ministry has formed a Special Task Force on Drug and Medical Device Safety to act as a central command unit to reinforce the country's supply resilience amid intensifying global supply disruptions, The Star reported. Health Minister Dr. Dzulkefly Ahmad said the system includes real-time monitoring and broader diversification of pharmaceutical procurement sources.In corporate news, Manforce Group (KLSE:MFGROUP) is scheduled to make its debut on Bursa Malaysia's ACE Market on Wednesday. The workforce solutions provider's enlarged issued share capital stands at 399.98 million units, with a total capital base of 51.7 million ringgit.Shares of Feytech (KLSE:FEYTECH) jumped over 6% on Tuesday's close after its unit Gosford Leather Industries bagged a deal to supply seat covers for Perusahaan Otomobil Nasional (Proton) for an upcoming modelMeanwhile, shares of Exsim Hospitality (KLSE:EXSIMHB) gained 3% on close after its subsidiary EXSIM Concepto accepted a letter of award from Epic Team Construction worth 2.08 million ringgit.
