Malaysian shares rise

Malaysian share prices closed 0.35 percent lower on Wednesday with investors sidelined ahead of the 2006 budget to be unveiled Friday, dealers said.
The Kuala Lumpur Composite Index shed 3.21 points to 924.50. Volume was 463.29 million shares worth 742.22 million ringgit (197 million dollars) and losers led gainers 342 to 322.
Dealers said trading continued to be sluggish with most investors remaining sidelined ahead of the federal budget announcement.
Economists said the budget was likely to be slightly expansionary and that the stock market is not expected to see any major leads from it.
"Trading was pretty dull as there were no positive leads to take the market higher. Most investors are reluctant to take any large position ahead of the budget," a local brokerage dealer said.
Among blue chips, Tenaga Nasional was down 0.10 at 10.70 ringgit, Telekom Malaysia was flat at 10.20 while Malayan Banking lost 0.20 at 11.50.