Malaysian Shares Snap Losing Streak to End in Green

MT Newswires Live07-23 17:45

Malaysian shares rebounded on Thursday, snapping a three-day losing streak. The investor sentiment was upbeat, mirroring a positive regional performance.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 3.22 points to end 0.2% higher at 1,714.59.

In local news, Malaysia's Securities Commission and Hong Kong's Securities and Futures Commission signed a memorandum of understanding to expand their mutual recognition of funds scheme and simplify the framework for dual initial public offerings. The agreement broadens the range of investment products eligible under the mutual recognition of funds scheme, while streamlining dual IPO listings to strengthen capital market connectivity between the two jurisdictions.

In corporate news, shares of Prestar Resources (KLSE:PRESTAR) slid about 2% on close after it agreed to acquire three industrial land and factory properties in Serendah Technology Park, Selangor, Malaysia, for 15.4 million ringgit.

SWS Capital's (KLSE:SWSCAP) wholly-owned subsidiaries, U.D. Wood Products and Syarikat U.D. Trading have agreed to sell three leasehold industrial properties in Muar, Johor, to Seng Seang Trading, for 15.5 million ringgit.

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