Malaysian share prices closed 0.47 percent higher on Monday, with trading volume surpassing the two billion share mark on sustained buying interest in blue chips and second-liners, dealers said. They said follow through buying is expected to continue tomorrow, judging by the brisk volume.
The Kuala Lumpur Composite Index closed up 4.52 points at 965.90. Volume was heavy at 2.11 billion shares worth 2.04 billion ringgit (0.6 billion dollars).
Gainers outnumbered losers 734 to 245, with 202 stocks unchanged.
The ringgit was stronger at 3.5963 to the dollar, and 4.5768 to the euro.
"My take is that the market will continue to trade in positive territory amidst bullish undertone and some foreign interest due to speculation of potential currency gains on the ringgit," a local brokerage dealer said.
He said the bullish sentiment could also be due to the fact that the Malaysian bourse had lagged behind other regional bourses recently. Telekom Malaysia closed up 0.10 ringgit at 10.00 and Malayan Banking was flat at 11.10, while Tenaga was down 0.05 at 8.80. Carmaker Proton Holdings Bhd was up 0.05 ringgit at 6.05 on a report that it is in talks with France's Peugeot for possible collaboration in the development and manufacture of new models.
Comments
Comments are closed.