Malaysian shares ended up in razor-thin trade on Thursday for their fifth-day of gains, helped by advances in key stocks like Maybank, as concerns over a rate rise in the US kept many investors out of the market.
At the closing bell, the key Kuala Lumpur Composite Index was up 0.67 percent at 823.91 points, boosted by gains in its two biggest components, lender Maybank and phone firm Telekom Malaysia.
The key index found some support from local funds towards the end of trading hours as it peaked at 826.50 points but this also attracted sellers, a dealer said.
Overall market volume was a light 210 million shares, worth 529 million ringgit ($139 million). Gainers beat losing stocks 378 to 284.
"Without strong buying through momentum, the Composite Index may find it difficult to cross the near-term resistance of 820-830 points," TA Securities said in a note.
Defensive stocks that offer resilient earnings and price stability during bearish times found eager buyers.
Power producer Malakoff Bhd rose 1.7 percent to 5.90 ringgit while rival Ranhill Power Bhd gained 3.3 percent to 1.87 ringgit.
Shares of the country's biggest cigarette maker British American Tobacco inched up half a percent to 50.00 ringgit.
Malaysian Industrial Development Finance rose 0.9 percent to 1.16 ringgit after the firm got central bank approval to start talks to buy 14.9 percent of Utama Merchant Bank from the local unit of HSBC Holdings Plc.
Shares of Malaysia Mining Corp Bhd shed half a percent at 2.00 ringgit following news that its unit Gas Malaysia, a domestic fuels provider, is planning to sell 700 million ringgit of Islamic bonds to fund a business expansion.
Shares of Public Bank Bhd, the country's fourth-biggest by assets, ended unchanged at 5.85 ringgit, as the bank begins its road show to market a planned $300 million 10-year bonds.
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