Asia
Malaysian Shares End in Red Bucking Regional Gains
Malaysian shares ended in the red on Monday, erasing Friday's gains. The index bucked a positive regional sentiment as the US and Iran agreed to pause military strikes.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 1.83 points to end 0.11% lower at 1,665.91.In economic news, the Producer Price Index (PPI) for local production in Malaysia rose 7.8% year over year in May, according to data from the Department of Statistics Malaysia. The latest print accelerated from the 5.4% increase recorded in the previous month, and was the fastest expansion since June 2022. It also beat the Trading Economics forecast for a 7.2% growth.Fitch Ratings expects Malaysia's fund management industry to hit $300 billion in assets under management through the second half of 2026 and into 2027. Total industry AUM accounted for about 60% of GDP at the end of the first quarter, or a 9.5% annual increase to $283 billion, Fitch said.In corporate news, RNG Tech's initial public offering was oversubscribed by 7.8 times ahead of its ACE Market listing, reflecting strong demand from retail investors. The engineering support services provider received 7,321 applications for 345.6 million shares worth 44.9 million ringgit, with 39.4 million shares allocated to the Malaysian public.Sime Darby (KLSE:SIME) unit UMW International has commenced liquidation in Indonesia following the appointment of a liquidator. Shares ended flat today.
FTSE Bursa Malaysia KLCIKLSE:SIME
