Malaysian Shares Edges Lower Despite Record Job Growth
Malaysian equities logged a second day of fractional losses on Thursday, as record-high employment figures failed to offset a cautious mood across Asian markets.The FTSE Bursa Malaysia KLCI shed 0.73 points to end 0.04% lower at 1,745.58. The day range was between 1,740.35 and 1,750.63.In economic news, Malaysia's labor market expanded in the first quarter, with total jobs rising to 9.23 million, up from 9.06 million a year earlier, according to data released by the Department of Statistics Malaysia. Filled jobs increased 1.8% annually to 9.03 million, while vacancies edged up slightly to 194,800, keeping the overall vacancy rate at 2.1%.Malaysia and Taiwan are strengthening cooperation in the semiconductor value chain as artificial intelligence demand accelerates across industries, from manufacturing to healthcare, CNA reported.In corporate news, Public Bank (KLSE:PBBANK) booked a net profit attributable to owners of 1.75 billion ringgit, up 0.4% annually. The lender attributed the profit to steady loan and deposit expansion, alongside improved non-interest income. Shares slid 1% on Thursday's close.Whereas, shares of Destini (KLSE:DESTINI) gained about 2% on close after its unit Destini Oil Services bagged a contract from Petronas Carigali to provide tubular running services in the West Region of Malaysia.
