Malaysian shares extended yesterday's gains to end in the green zone on Wednesday, maintaining a three-day winning streak.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 7.13 points to end 0.44% higher at 1,614.09. The day range was between 1,606.53 and 1,616.03.
In corporate news, TMK Chemical's (KLSE:TMK) initial public offering received a stellar response as it received 14,739 applications submitted for 305.54 million shares worth 534.7 million ringgit, reflecting an oversubscription rate of 14.28 times.
Shares of Mah Sing Group (KLSE:MAHSING) gained over 1% after its unit Loyal Sierra Development said it is acquiring freehold prime lands in Johor Bahru, Malaysia, from several vendors for 63 million ringgit.
Shares of V.S. Industry (KLSE:VSTECS) closed marginally higher after its profit attributable to owners jumped to 30.6 million ringgit in the fiscal first quarter from 49 million ringgit a year ago.
Whereas, shares of property developer Malton (KLSE:MALTON) dropped over 1% on Wednesday's close after it proposed a private placement of up to 10% of the total number of issued shares of the company.
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