Malaysian Shares End Week in Green Despite Downbeat Regional Performance
Malaysian shares extended yesterday's gains to end in the green territory on Friday, bucking regional losses.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 10.2 points to end 0.6% higher at 1,693.43. The day range was between 1,684.36 and 1,698.53.In economic news, Malaysia rejected the US claims about excess production capacity and forced labor as trade talks between the two countries continue, The Star reported, citing Investment, Trade and Industry Minister Johari Abdul Ghani. Johari said the country does not have surplus production capacity and denied claims that foreign goods are being routed through Malaysia for export to the United States.In corporate news, shares of OSK Property (KLSE:OSKPROP) slid over 2% on Friday's close after it launched a 690 million ringgit beachfront freehold development, called OSK Ombak. The project, in Kuantan, Malaysia, will feature 1,274 fully furnished serviced apartments across three blocks, along with retail units, and is scheduled for completion in 2030.GuocoLand (Malaysia) (KLSE:GUOCO), filed a formal petition with the High Court of Malaysia to confirm its proposed share capital reduction and repayment framework. Shares ended flat today.
