Malaysian share prices closed 0.22 percent higher on Friday in quiet trade as late buying in index-linked stocks helped reverse earlier losses, dealers said.
They said cautious investors continued to lock in profit amid concern over rising inflation following the recent spike in oil prices, with many players also opting to stay on the sidelines ahead of the weekend and with most regional markets closed for holidays. The Kuala Lumpur Composite Index ended up 2.08 points at 938.32.
Losers outnumbered gainers 511 to 283, with 297 stocks unchanged and 228 untraded. Volume was 847.47 million shares worth 686.31 million ringgit (186.85 million dollars).
The ringgit was traded at 3.6730 to the dollar and 4.4486 to the euro.
"Consolidation on the broader market will persist on the lack of a catalyst," a local brokerage dealer said.
"Maybe a breather is what the market needs before corporate results from blue chip companies and government-linked corporations begin to roll in," he added.
Among blue chips, Telekom Malaysia was flat at 9.60 ringgit, Malayan Banking was up 0.10 at 11.20 while Tenaga Nasional was also flat at 8.65 after early gains on improved second quarter to February results.
Genting led today's fallers, shedding 0.30 or 1.2 percent to 24.70 while British American Tobacco (M) Co Bhd was down 0.25 at 43.00.
Comments
Comments are closed.