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Nikkei Markets

Investors cheer Astro Malaysia's robust net profit growth

Bet on cost control steps to help protect earnings despite revenue pressure

KUALA LUMPUR (Nikkei Markets) -- Investors on Friday cheered Astro Malaysia's stronger-than-expected quarterly earnings, betting the pay-television operator's robust cost-control measures will offset revenue pressure and protect profits in the months ahead.

Shares of Astro Malaysia rose as much as 6.7% in intraday trading amid weak broader market to end 2.2% higher, while the benchmark FBM KLCI closed barely changed from the previous session.

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