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Malaysian Shares Rebound Tracking Regional Rally as Islamabad Peace Talks Boost Sentiment

-- Malaysian shares ended higher on Friday, tracking gains across Asian markets as sentiment improved on signs of easing geopolitical tensions in the Middle East ahead of highly anticipated US-Iran talks in Islamabad.

The FTSE Bursa Malaysia KLCI added 5.07 points to end 0.3% higher at 1,691.31. The day range was between 1,685.66 and 1,692.97.

In economic news, Malaysia's unemployment rate stood at 2.9% in February, unchanged from the previous month, according to data released by the country's Department of Statistics.

The sales value of Malaysia's wholesale and retail trade rose 5.3% annually to 156.3 billion ringgit in February, the Department of Statistics said. The growth was driven by a 7.7% increase in retail trade and a 5.7% rise in wholesale trade. Monthly, the sales value declined by 2.2%, the data showed.

In corporate news, shares of Wasco (KLSE:WASCO) slid about 3% on close on news that it is seeking to renew its authorization to conduct revenue-generating transactions at its upcoming annual general meeting. The conglomerate is also seeking its shareholders' nod to renew authority to purchase up to 10% of the issued shares of the company.

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