Malaysian Shares Rebound Bucking Regional Losses; TechStore's Shares Drop 6%

MT Newswires Live

Dec 09

Malaysian stocks erased losses from the previous sessions to end in the green zone on Tuesday, bucking a downbeat regional trend.

The FTSE Bursa Malaysia KLCI gained 1.39 points to end 0.1% higher at 1,614.17. The day range was between 1,606.23 and 1,620.73.

In economic news, Fitch Ratings affirmed Malaysia's BBB+ sovereign credit rating with a 'stable' outlook, citing the country's strong performance across key environmental, social and governance (ESG) indicators.

In corporate news, shares of TechStore (KLSE:TECHSTORE) slumped over 6% on close, as its unit Tech-Store Malaysia bagged a deal from Prasarana Malaysia worth 89.7 million ringgit. The deal is for the design, supply, delivery, installation, integration, testing, and commissioning of Digital Radio and On-board Live Detection Systems for the Kelana Jaya Line.

Meanwhile, shares of SMRT (KLSE:SMRT) dropped about 3% on close, as it signed a conditional deal to acquire a 37.5% stake in Novus Technologies for SG$7.1 million in cash.

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The day range was between 1,606.23 and 1,620.73.</p><p>In economic news, Fitch Ratings affirmed Malaysia's BBB+ sovereign credit rating with a 'stable' outlook, citing the country's strong performance across key environmental, social and governance (ESG) indicators.</p><p>In corporate news, shares of TechStore (KLSE:TECHSTORE) slumped over 6% on close, as its unit Tech-Store Malaysia bagged a deal from Prasarana Malaysia worth 89.7 million ringgit. 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