Malaysian shares returned to the positive territory on Thursday, overcoming yesterday's losses, as investors were upbeat after the Malaysian central bank held policy rates steady.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, added 4.32 points to end 0.28% higher at 1,535.83. The day ranged between 1,531.70 and 1,539.60.
In economic news, Malaysia's central bank kept the overnight policy rate unchanged at 3% as expected, as the country's economy continues to expand, the central bank announced Thursday. The central bank attributed the decision to resilient domestic demand and improved trade activities.
The international reserves of Bank Negara Malaysia stood at $114.3 billion as of Feb. 29, slightly down from the $114.8 billion recorded on Jan. 31, Bank Negara Malaysia said.
In corporate news, shares of property developer Thriven Global (KLSE:THRIVEN) soared 19%, and those of the switchgear manufacturer Powerwell (KLSE:PWRWELL) rallied about 18% today.
Meanwhile, shares of the foundation and civil engineering contractor Econpile Holdings (KLSE:ECONBHD) jumped over 12% on Thursday's close.