Malaysian Shares Extending Gains for Second Straight Session; Shares of XOX Soar 50%

MT Newswires ·  May 14 17:52

Malaysian share opened the week in positive territory on Tuesday, extending yesterday's gains driven by a positive market environment.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 2.97 points to end 0.19% higher at 1,605.9 at the close. The index started comparatively lower but gained momentum throughout the session, trading within a range of 1,601.44 and 1,607.42.

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

Liquidity in the traditional system dropped to 29.62 billion from 33.79 billion ringgit, while liquidity in Islamic funds declined to 18.89 billion from 19.36 billion, previously.

In corporate news, shares of both the mobile virtual network operator XOX (KLSE:XOX) and the industrial mold manufacturer MQ Technology (KLSE:MQTECH) surged 50%, while those of Zen Tech International (KLSE:ZENTECH) rallied over 33% on Tuesday's close.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment