Malaysian Shares Extend Losses on Thursday, Dragged by Profit Booking; Go Hub Capital Shares Rise 6%

MT Newswires Live01-29

Malaysian stocks extended yesterday's losses on Thursday, with most sectors in the red amid profit-booking activities.

The FTSE Bursa Malaysia KLCI shed 25.60 points to end 1.5% lower at 1,730.89. The day range was between 1,719.52 and 1,753.31.

In corporate news, shares of Go Hub Capital (KLSE:GOHUB) jumped about 6% at close after it fixed the issue price for the private placement shares at 0.55 ringgit per share.

Ambest Group's (KLSE:AMBEST) initial public offering on the ACE Market has been oversubscribed by 46.07 times. The IPO, valued at 300.1 million ringgit, received 8,084 applications from the Malaysian public for 1.20 billion shares, the precision machining services provider said.

MCE's (KLSE:MCEHLDG) units bagged deals worth about 37.9 million ringgit from PROTON. Under the deals, MCE will supply automotive electronics and mechatronic components for a new car model. Shares ended flat today.

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