Malaysian Shares Rebound on Bargain Hunting; Kumpulan Kitacon's Shares Rise 4%

Malaysian shares ended in black, reversing losses of the previous session after a holiday.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 13.10 points to end 0.82% higher at 1,603.05. The day range was between 1,592.32 and 1,603.05.

In local news, The sales value of Malaysia's wholesale & retail trade rose 5.7% year on year to 152.2 billion ringgit in December 2024, according to the data released by the Department of Statistics. Monthly, the sales edged up by 1.9%, the data showed.

In corporate news, shares of Kumpulan Kitacon KKITACON rose 4% after it secured a building works deal worth 104.3 million ringgit in Selangor, Malaysia.

Shares of MGB MGB slid marginally on close after it bagged a letter of award worth 194.7 million ringgit from LYK Architect for a property development project in Pahang, Malaysia.

Shares of Keyfield International KKEYFIELD slid marginally after its unit Keyfield Offshore secured a work order award and a work order extension from PETRONAS Carigali for the charter of two dynamic positioning two accommodation workboats.