Malaysia share prices closed 0.47 percent higher on Thursday, bucking a weaker regional trend in modest trade supported by gains in the blue chips, dealers said. Dealers said sentiment was weighed down by overnight falls on Wall Street amid concerns over rising oil prices but blue chips were generally steady.
The Kuala Lumpur Composite Index rose 4.27 points to 906.96 and volume was 365.02 million shares, worth 662.97 million ringgit (174 million dollars) and losers outnumbered gainers 356 to 330.
Among blue chips, Tenaga Nasional was up 0.20 ringgit at 10.70 on a technical rebound, dealers said.
They added the stock was supported by hopes of stronger results for the third quarter to May 2005, after the stock fell yesterday on "pricey" acquisitions that will give it operating control over a 220 megawatt gas-powered plant in northern Kedah state.
Telekom Malaysia was flat at 10.40 ringgit, while Malayan Banking was up 0.10 at 11.20.
Budget airline AirAsia was flat at 1.64 ringgit, after earlier losses on concerns that the latest surge in oil prices to beyond the 61 dollar a barrel level will hurt its margins, dealers said.
Comments
Comments are closed.