Malaysian Shares Maintain Six-Session Winning Streak; Key Alliance Group's Shares Rocket 100%

Malaysian shares ended in the green territory mid-week, as investor sentiment remained upbeat for the sixth consecutive session, thanks to a boost in global market sentiment.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 9.84 points to end 0.63% higher at 1,571.48 at the close. The day ranged between 1,564.89 and 1,572.48.

In economic news, Malaysia's Ministry of Investment, Trade and Industry (Miti) said it disbursed 58.9 million ringgit to 17 small and medium enterprises (SMEs) in the first quarter for automation and modernization.

Fitch Solutions-owned firm BMI expects Malaysia's household spending to grow by 5% annually in 2024 to 903.8 billion ringgit. The research firm attributed the rosy outlook to persistent economic growth and consumption levels returning to normal.

In corporate news, shares of the information technology and financial solutions provider Key Alliance Group KKGROUP rocketed 100%, and those of the property developer Talam Transform TALAMT surged 50% on Wednesday's close.