Malaysian shares ended higher for the second straight session on the week's close. The sentiment remained upbeat after the data by S&P suggested improvement in the manufacturing activity.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 9.29 points to end 0.59% higher at 1,589.59 at the close.
The index initially opened comparatively lower, but gained momentum throughout the trading session. The day ranged between 1,581.59 and 1,590.56
In economic news, Kenanga Investment Bank kept its projection that Malaysia's gross domestic product (GDP) will expand at a faster rate of 4.5% to 5% in 2024 from 3.7% a year prior, thanks to an improved manufacturing performance in April.
Malaysia's manufacturing purchasing managers' index rose to 49 in April from 48.4 in March, the S&P survey found.
In other corporate news, shares of fast-food restaurant franchises operator Borneo Oil (KLSE:BORNOIL) skyrocketed 100%, while those of the industrial mold manufacturer MQ Technology (KLSE:MQTECH) soared 33% on Friday.