Malaysian Shares Maintain Winning Streak; Key Alliance Group's Shares Balloon 100%

Malaysian shares ended in the green territory on the week's close, extending yesterday's gains. The investor sentiment remained upbeat for the third consecutive session.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 2.81 points to end 0.18% higher at 1,547.57 at the close. The day ranged between 1,545.90 and 1,552.45.

In economic news, Malaysia's total trade rose 5.1% annually to 244.5 ringgit in March from 232.6 billion ringgit a year prior, according to data released by the country's Department of Statistics on Friday.

Exports fell 0.8% annually to 128.6 billion ringgit, while imports jumped 12.5% to 115.8 billion ringgit versus a year ago. The trade balance continued to be a surplus of 12.8 billion ringgit, albeit plunging 52% from 26.7 billion ringgit a year earlier, the department said.

Moreover, Malaysia's gross domestic product rose 3.9% in the first quarter of the year, quicker than the 3% growth seen in the preceding quarter, according to the advance GDP estimates released by the country's Department of Statistics on Friday.

In corporate news, shares of the information technology and financial solutions provider Key Alliance Group KKGROUP rocketed 100%, and those of the gloves manufacturing and other services provider surged 50% on Friday's close.