Malaysian shares ended the week in positive territory as investor sentiment improved after the country's GDP rose faster than expected in the first quarter.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 5.51 points to end 0.34% higher at 1,616.62.
In economic news, Malaysia's gross domestic product rose 4.2% in the first quarter of the year, faster than the 2.9% growth seen in the preceding quarter, according to the data released by the Department of Statistics (DoSM) on Friday. The pace of increase surpassed analysts' 3.9% forecast in a Reuters poll.
Moreover, Malaysia's Current Account Balance booked a surplus of 16.2 billion ringgit during the first quarter, according to the data released by the DoSM.
Meanwhile, Malaysia's International Investment Position (IIP) logged higher net assets of 157 billion ringgit as at the end of the first quarter versus 123.7 billion ringgit a month prior, the Statistics Department said.
In corporate news, shares of Hong Seng Consolidated (KLSE:HONGSENG), a provider of gloves manufacturing and other services, surged 50%, while those of electronic products trader and renewable energy solutions provider Compugates Holdings (KLSE:COMPUGT) rallied over 33%.
