Malaysian Shares End in Red on Profit Taking Amid Global Tech Rout

MT Newswires Live

02/05

Malaysian stocks erased gains of the previous session to end in the red on Thursday due to profit-taking activities. The investors could not find positive cues amid a global tech rout.

The FTSE Bursa Malaysia KLCI shed 11.80 points to end 0.7% lower at 1,731.02. The day range was between 1,731.02 and 1,747.18.

In corporate news, Kee Ming Group's initial public offering (IPO) of 82.88 million shares on the ACE Market of Bursa Malaysia was oversubscribed 54.16 times. The IPO comprised a public issue of 66.6 million new shares, and an offer for sale of 16.3 million existing shares at 0.38 ringgit per share.

Shares of Malaysian Pacific Industries (KLSE:MPI) closed about 2% lower on Thursday after it completed the acquisition of the entire equity interest in Infineon Technologies (Thailand) for $76.9 million.

Shares of Sunway (KLSE:SUNWAY) also fell over 1% on close after its indirect unit Sunway Property (Australia) applied for voluntary deregistration in Australia. The unit has remained dormant since its inception.

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The investors could not find positive cues amid a global tech rout.</p><p>The FTSE Bursa Malaysia KLCI shed 11.80  points to end 0.7% lower at 1,731.02. The day range was between 1,731.02 and 1,747.18.</p><p>In corporate news, Kee Ming Group's initial public offering (IPO) of 82.88 million shares on the ACE Market of Bursa Malaysia was oversubscribed 54.16 times. The IPO comprised a public issue of 66.6 million new shares, and an offer for sale of 16.3 million existing shares at 0.38 ringgit per share.</p><p>Shares of Malaysian Pacific Industries (KLSE:MPI) closed about 2% lower on Thursday after it completed the acquisition of the entire equity interest in Infineon Technologies (Thailand) for $76.9 million.</p><p>Shares of Sunway (KLSE:SUNWAY) also fell over 1% on close after its indirect unit Sunway Property (Australia) applied for voluntary deregistration in Australia. The unit has remained dormant since its inception.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IPO","symbol_name":"Renaissance IPO ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2609378657","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2609378657","pubTimestamp":1770284827,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Malaysian stocks erased gains of the previous session to end in the red on Thursday due to profit-taking activities. 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