Malaysia Equities Rise to Near 2-Year Highs

The stock market in Malaysia advanced 5.9 points or 0.4% to 1,565.5 in morning deals on Tuesday, gaining for the fourth straight session while hitting near two-year highs after notching its lowest over two weeks in mid-April.

The FTSE Bursa Malaysia KLCI tracked a rise in Wall Street overnight as traders braced for the busy week season amid easing Middle East tensions.

Investors were also comforted, with domestic data such as the annual GDP growing the most in a year at 3.9% and the unemployment rate falling to 3.3% in February from 3.5% in the same month last year.

Almost all sectors traded in the green, led by financial services, healthcare, and construction.

Among the top gainers were Ihh Healthcare (1.6%), Cimb Group (0.6%), Petronas Gas Berhad (0.4%), and Kuala Lumpur Kepong (0.4%).

Traders anticipate US GDP growth figures and PCE inflation data later this week.