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Malaysian Shares Snap Six-Session Winning Streak; Amlex's Shares Plummet 42%

MT Newswires ·  Apr 25 05:41

Malaysian shares ended the six-day winning streak to end in red on Thursday after the inflation data indicated no change. The index also took cues from the mixed overnight performance of Wall Street.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 2.23 points to end 0.14% lower at 1,569.25 at the close. The day ranged between 1,569.03 and 1,574.45.

In economic news, Malaysia's headline inflation remained steady at 1.8% in March, according to a Thursday release from the Department of Statistics. The figure was below Reuters' consensus estimate for a 2% increase.

Core inflation, which excludes volatile items, rose 1.7% year over year, easing from the 1.8% in the month prior, the data showed.

Elsewhere, Malaysia's Leading Index rose 2% to 112.7 points in February from 110.5 points in the year-ago period, according to data released by the country's Department of Statistics. The increase suggests a potential improvement in the country's economic performance in the coming months.

Meanwhile, Malaysia's Coincident Index, which tracks the current state of the economy, also showed positive signs. The index rose 1.9% year-on-year to 124.2 points in February versus 121.9 points a year prior.

In corporate news, shares of the management services provider Amlex Holdings (KLSE:AMLEX) plunged about 42% today.

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