Malaysian share prices closed 0.34 percent higher on Thursday after the central bank forecast strong economic growth of 6.0 percent for this year, dealers said. They said government-linked companies also were in focus after they announced key performance targets, dealers said.
The Kuala Lumpur composite index added 3.17 points at 925.11. Losers outnumbered gainers 454 to 296, with 320 stocks unchanged and 254 untraded. Volume was 770.66 million shares worth 878.13 million ringgit (238 million dollars).
The ringgit was traded at 3.69 to the dollar and 4.4485 to the euro. Dealers hailed the move by government-linked companies in announcing their key performance indicators for 2006 to 2008, which indicated "the desire to improve productivity."
"We feel this is a right step in enhancing corporate governance and transparency for the local blue chips," said a local brokerage dealer, adding that this should have a positive impact on the stock market in the long term.
The stronger-than-expected GDP growth forecast and higher public spending figure announced by the central bank gave a slight boost to the key index, said a another dealer.
Talk of some GLC privatisation may also spur interest, he added.
Among blue chips, Telekom Malaysia was up 0.15 ringgit at 9.40, Tenaga Nasional was down 0.10 at 8.40 while Maybank was unchanged at 10.90.
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