Malaysian Shares Maintian Four-Day Winning Streak; Ecosys (Malaysia) Shares Rocket 196%

MT Newswires Live10-14 17:42

Malaysian shares closed in green for the fourth consecutive session due to bargain hunting. The blue-chip index FBM KLCI gained 0.3% or 4.37 points to end higher at 1,627.72.

The International Monetary Fund raised its Malaysia economic growth estimate for 2026, according to its World Economic Outlook update.

The IMF expects the country's economy to grow 5.2% in 2026, up from its April estimate of 4.7%, and unchanged from the pace of expansion in 2025. For 2027, the GDP growth estimate was upgraded to 4.6% from the 4.3% growth projected in April.

In corporate news, Ecosys (Malaysia) (KLSE:ECOSYS) made a strong debut on Bursa Malaysia's ACE Market, with its shares climbing to 0.76 ringgit from an initial public offering (IPO) price of 0.27 ringgit, shooting up 179%. The company's shares close 196% higher on Wednesday.

Pantech Global's (KLSE:PGLOBAL) subsidiary, Pantech Steel Industries, has agreed to sell a parcel of freehold land in Selangor to Veltrix Land for 31.7 million ringgit. The property covers an area of around 10.01 acres of vacant agricultural land.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment