Malaysian stocks ended in the red zone for the third straight session, mirroring broader regional losses, despite a quarter-point rate cut by the central bank on Wednesday.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 0.90 points, to end 0.06% lower at 1,529.24. The day range was between 11,523.21 and 1,532.62.
In economic news, Malaysia's central bank cut the overnight policy rate by a quarter point to 2.75% on Wednesday, in line with market expectations. Bank Negara Malaysia said that while the country's economy continued to expand, thanks to sustained consumer spending and, to some extent, by front-loaded activities.
In corporate news, shares of Capital A (KLSE:CAPITALA) fell about 2% after Deputy Group CEO Farouk Kamal said Wednesday that its unit AirAsia is close to finalizing talks with potential strategic investors as the Malaysia-based airline nears the end of its restructuring.
Malaysia-listed shares of IHH Healthcare (SGX:Q0F, KLSE:IHH) slid marginally on today's close after the company said it is eyeing potential expansion into Indonesia and Vietnam as the Malaysian hospital operator continues to scale up in response to rising healthcare costs across the region, Bloomberg News reported.
Meanwhile, TDM (KLSE:TDM) extended the completion date for the proposed disposal of its equity interests in palm oil companies, Rafi Kamajaya Abadi and Sawit Rezki Abadi to Ikhasas Sawit. The new deadline is set for Dec. 31,
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.