KUALA LUMPUR (March 28): Shares in Malaysian Bulk Carriers Bhd (Maybulk) has rebounded as much as 20.5 sen or 40.2% to as high as 71.5 sen in today's morning trade.

The stock had fallen to its all-time low of 51 sen on March 1 this year, after it posted a net loss of RM1.12 billion in the fourth quarter ended Dec 31, 2015 (4QFY15) — its largest ever quarterly lost — due to a massive impairment provision.

The significant rise in its share price now, according to an analyst with a local brokerage firm, could be because investors are now more optimistic on China's economic growth.

"Investors were very pessimistic on China's economic growth over the past few months and now they have found out it may not be that bad," said the analyst.

At 3.10pm, Maybulk narrowed its gain to trade at 69 sen, still up 6.5 sen or 10.4%, as compared to its closing price on Friday of 62.5 sen, after 19.8 million shares changed hands.

In comparison, its 65-day average traded volume was 1.34 million shares.

The current price gives it a market capitalisation of RM685 million.

The Edge Weekly, in its latest issue, also reported that the recent gains in Maybulk's share price were attributable to the improving outlook for the oil and gas industry.

"There is some excitement for the (Baltic Dry) index has been subdued for so long. There is some momentum from scrapping and shipping tycoons buying assets," a former shipowner had told the business and financial weekly.