Malaysian Shares Extend Gains as Wall Street Tech Surge Drives Regional Momentum

MT Newswires Live
Oct 06

Bursa Malaysia extended gains on Tuesday for the third straight session to end in green, driven by a technology-led rally on Wall Street and optimistic regional market performance.

The blue-chip index FBM KLCI climbed 0.1% or 1.60 points to close at 1,633.35.

The ASEAN+3 Macroeconomic Research Office (AMRO) expects Malaysia's GDP to grow 5.1% in 2026, slowing from a 5.2% expansion in 2025. The Singapore-based organization expects the country's economic growth to ease further to 4.8% in 2027, according to its October update of the ASEAN+3 Regional Economic Outlook.

Shares of Top Glove (KLSE:TOPGLOV, SGX:BVA) jumped over 11% at Tuesday's close, as its profit attributable to owners of the parent surged to 157.6 million ringgit in the fiscal fourth quarter ended Aug. 31, from 34.8 million ringgit a year earlier.

CIMB Group (KLSE:CIMB) is exploring a sale of its Philippines business as it seeks to streamline operations and focus on larger growth markets, Bloomberg News reported Tuesday, citing people familiar with the matter. The Malaysian lender is working with a financial adviser and has contacted potential buyers to gauge interest, with the business potentially valued at up to $200 million, the people said.

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