Malaysian Shares End Higher on Upbeat PMI Data; Sentoria Slumps 33%

MT Newswires Live

02/03

Malaysian stocks finished higher on Tuesday after data showed that the country's manufacturing activity edged higher in January.

The FTSE Bursa Malaysia KLCI gained 7.38 points to end 0.4% higher at 1,748.26. The day range was between 1,742.68 and 1,757.51.

In economic news, Malaysia's manufacturing sector improved for a third straight month in January, with output returning to growth and demand stabilizing, S&P Global said. The S&P Global Malaysia Manufacturing Purchasing Managers' Index edged up to 50.2 from 50.1 in December, marking the joint-highest reading since August 2022.

In corporate news, shares of Sentoria Group (KLSE:SNTORIA) plunged over 33% on Tuesday's close after it filed a writ with the High Court of Malaya against OCBC Bank (Malaysia), claiming 679 million ringgit in compensation.

Meanwhile, shares of MISC (KLSE:MISC) gained about 2% on close after it secured a letter of award from PETRONAS LNG for long-term time charters of three newbuild LNG carriers.

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