Malaysian Equities Extend Gains; Scicom Rises Over 5%

MT Newswires Live

Sep 10

Malaysian extended gains from yesterday's session to end marginally higher on Wednesday, in line with positive regional performance.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, climbed 3.94 points to end 0.25% higher at 1,590.75. The day range was between 1,585.21 and 1,590.80.

In economic news, Malaysia's unemployment rate was unchanged at 3% in July from a month earlier, and in line with the market forecast.

In corporate news, shares of Scicom (MSC) (KLSE:SCICOM) jumped over 5% on Wednesday's close after it agreed to jointly develop customer engagement solutions and digital service platforms with Telekom Malaysia (KLSE:TM).

ARK Resources (KLSE:ARK) said it plans to use the proceeds from the private placement of shares to establish a new corporate office.

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