Malaysian Shares Rebound as Cooler US Inflation Boosts Investor Sentiment
Malaysian shares ended in the green on Thursday, erasing yesterday's losses amid a mixed regional performance. Investor sentiment rebounded after data showed slower-than-expected inflation in the US.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 8.43 points to end 0.5% higher at 1,722.19.In corporate news, shares of iCents Group (KLSE:ICENTS) gained over 2% on close today after its subsidiary, VC Engineering, accepted a letter of award worth 12.9 million ringgit to undertake renovation works as the main contractor for a factory warehouse and ground floor office in the Klang Valley, MalaysiaGamuda (KLSE:GAMUDA) has applied to Bursa Malaysia Securities for the listing of new shares to be issued under its existing Dividend Reinvestment Plan (DRP) for the second interim dividend for the financial year ending July 31. Shares gained about 2% on Thursday's close.Whereas, shares of TH Plantations (KLSE:THPLANT) slid about 2% on close after it reported fresh fruit bunch (FFB) production of 60,383.39 metric tonnes in June. The group produced 12,889 metric tonnes of crude palm oil and 3,303.5 metric tonnes of palm kernel during the month.
