Malaysian Blue-Chip Index Ends Week in Red As Producer Inflation Rises
Malaysian shares closed slightly lower to end in the red on Friday, as producer inflation rose in July.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 15.84 points to end 0.9% lower at 1,725.88.In economic news, The Producer Price Index (PPI) for local production in Malaysia rose 9.7% year over year in July, according to data from the Department of Statistics Malaysia. The latest reading accelerated from the 9.2% increase in the previous month.In corporate news, CIMB Group's (KLSE:CIMB) shares slid over 1% on Friday's close after its profit attributable to owners inched up to 1.94 billion ringgit in the second quarter from 1.89 billion ringgit a year earlier.Moreover, CIMB's unit CIMB Thai Bank will delist from the Stock Exchange of Thailand, effective Sept. 12.Tenaga Nasional's (KLSE:TENAGA) shares slid over 1% on close after its profit attributable to owners fell to 888.8 million ringgit in the second quarter from 1.16 billion ringgit a year ago.
