Malaysian Shares Extend Gains as Islamabad Peace Talks Lift Sentiment
Malaysian shares ended in green for the third straight session on Tuesday over a possible de-escalation in hostilities between the US and Iran.The FTSE Bursa Malaysia KLCI gained 13.03 points to end 0.8% higher at 1,715.33. The day range was between 1,700.54 and 1,716.64.Investor sentiment improved as the second phase of peace talks unfolded in Islamabad, with the US expressing optimism over progress. However, Iran has yet to confirm its participation, keeping uncertainty around the negotiations.In economic news, Malaysian Prime Minister Anwar Ibrahim announced measures to ease cost pressures on SMEs, including a 5 billion ringgit financing guarantee and a 12-month extension for e-invoicing transition. The package also includes interim tax relief on re-imported goods, with support focused on sectors such as construction, agriculture, logistics, and tourism.In corporate news, shares of ES Sunlogy (KLSE:SUNLOGY) gained about 2% on close after its unit Savelite Engineering secured a subcontract worth 107.5 million ringgit from China State Construction Engineering.