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Malaysian Shares Rebound on Bargain Hunting; Chin Hin Group Property's Shares Rally 9%

MT Newswires ·  Apr 4 17:54

Malaysian shares ended in the green territory on Thursday, reversing losses of the previous session, on bargain hunting.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 16.23 points to end 1.06% higher at 1,553.24. The day ranged between 1,537.25 and 1,554.33.

In economic news, Malaysia's short-term interbank rates closed steady on the central bank's operations to absorb surplus liquidity from the financial system.

Liquidity in the traditional system rose to 26.95 billion ringgit from 26.64 billion ringgit, while liquidity in Islamic funds dropped to 20.44 billion ringgit from 23.46 billion ringgit.

In corporate news, shares of the shares Chin Hin Group Property (KLSE:CHGP) soared nearly 9% today, and those of the tech firm PMB Technology (KLSE:PMBTECH) rose over 7%.

Meanwhile, shares of the direct marketing company Amway (Malaysia) (KLSE:AMWAY) gained about 6% on Thursday's close.

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