Malaysian share prices closed 0.12 percent higher in fairly quiet trade on Wednesday as many investors remained on the sidelines ahead of the New Year holiday, dealers said. The Kuala Lumpur Composite Index was up 1.04 points to 895.55.
Gainers outnumbered decliners 350 to 275, with 334 stocks unchanged and 365 untraded. Volume was 310.67 million shares, worth 454.71 million ringgit (120 million dollars).
The ringgit traded at 3.7795 to the US dollar and 4.4797 to the euro. "There is nothing to say about the market today retailers were not showing any interest, while most institutional players were on leave," a local brokerage dealer said.
"Last-minute buying pushed the key index into the positive territory. The same scenario will continue till the end of the year."
Among blue chips, Tenaga Nasional was up 0.05 ringgit at 9.95, while Telekom Malaysia and Maybank were both flat at 9.60 and 11.10, respectively.
ECM Libra advanced 0.065 to 0.745 following an announcement that Khairy Jamaluddin, the son-in-law of Prime Minister Abdullah Ahmad Badawi, has bought a 3.0 percent stake in the financial advisory company.
Green Packet, a telecommunications software company, gained 0.03 to 2.03, on hopes that the company will win a second contract from another major telco in China, dealers said.
Proton Holdings advanced 0.15 to 6.30 after announcing that it had sold.
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