Malaysian Equities Post Slight Rise on US Rate Cut Hopes; Reservoir Link Energy's Shares Rise 3%

MT Newswires Live

Sep 08

Malaysian extended gains of last Thursday's session to end marginally in the green zone on Monday after a holiday on Friday.

The index tracked regional gains as markets rallied on hopes of US Federal Reserve rate cuts.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 7.44 points to end 0.47% higher at 1,585.59. The day range was between 1,579.57 and 1,587.16.

In corporate news, shares of Ranhill Utilities (KLSE:RANHILL) jumped 5% after it redesignated its non-independent director, Faiz Ishak, as the company's chairman.

Shares of Reservoir Link Energy (KLSE:RL) gained about 3% after its unit, RL Sigma Engineering, received a 60.2 million ringgit turnkey engineering, procurement, construction, and commissioning project. The deal was awarded by Sage Promaster to build a waste recovery facility producing safefuels, an alternative renewable fuel.

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