Malaysian Shares Extend Losses to End in Red; Shares of LKL International Rise 5%

MT Newswires Live01-09 17:33

Malaysian shares extended yesterday's losses to close in the red zone on Thursday due to profit-taking activities.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 14.02 points to end 0.87% lower at 1,600.81. The day range was between 1,600.75 and 1,618.17.

In corporate news, shares of LKL International (KLSE:LKL) jumped about 5% after it completed the acquisition of a property. The company's unit LKL Advance Metaltech acquired the property for 24 million ringgit.

Shares of Malaysia Airports (KLSE:AIRPORT) gained marginally after the bidders extended the closing time and date for the acceptance of the takeover offer to Jan. 17, 5 pm, from Jan. 8.

Pantech Group (KLSE:PANTECH) inked an underwriting deal with AIS, to underwrite 86 million shares to be issued under its initial public offering (IPO). The listing is slated for the first quarter.

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