Malaysia’s corporate landscape saw a mix of fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA strengthened its renewable energy ambitions after its subsidiary issued RM1.05 billion in Asean Green SRI Sukuk to finance a 500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for green financing and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY raised RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...
KUALA LUMPUR (Nov 8): Malaysian stocks closed higher for second straight day today as foreign investors continued to buy into market.
The benchmark FBM KLCI ended 6.54 points or 0.38% higher at 1,721.42 points, led by telecommunication stocks. The gain also mirror the moves globally after Wall Street's overnight rally.
According to Inter-Pacific Securities research head Pong Teng Siew, foreign buying helped propped up the local stock market, as well as gains in Maxis Bhd, DiGi.com Bhd and Axiata Group Bhd.
Additionally, Pong said the recovery in oil prices has helped the market. Brent crude futures rose 0.42% to US$72.37 per barrel at the time of writing.
Shares of Maxis closed 11 sen or 2.04% higher at RM5.51 for a market capitalisation of RM43.07 billion, while DiGi closed up six sen or 1.35% at RM4.50, valuing it at RM34.99 billion.
Axiata, on the other hand, closed two sen or 0.56% higher at RM3.62, bringing its market capitalisation of RM32.84 billion.
Trading volume decreased to 2.28 billion shares worth RM2.29 billion compared with yesterday's 2.32 billion shares worth RM2.5 billion. Gainers led losers by 475 to 357, while 361 counters remained unchanged.
Reuters reported that Asian stocks scaled a one-month peak on Thursday, after investors drove a Wall Street rally on relief the US midterm elections delivered no major political surprises, while the dollar bounced and pulled away from two-and-a-half-week low.
Across Asia, Japan's Nikkei 225 grew 1.82%, South Korea's Kospi rose 0.67% while Hong Kong’s Hang Seng was up 0.31%.
Source: The Edge
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