Malaysian share prices closed 0.25 percent higher on Thursday in mixed trade with investors cautious ahead of third-quarter gross domestic product data, dealers said. Trade also saw gains capped by profit-taking in lower-liners and select blue chips, they said.
Third quarter GDP grew 5.8 percent in the third quarter, the central bank said in data released after the close of trade. The Kuala Lumpur Composite Index gained 2.7 points to 1,046.51 and volume traded was 1.04 billion shares valued at 1.26 billion ringgit (346 million dollars). Losers outnumbered gainers 471 to 375, with 304 stocks unchanged and 175 untraded. At the close, the ringgit was traded at 3.6450/6470 against the dollar.
"The market had a mixed performance today on mild profit-taking. Investors locked in gains, especially in select blue chips and plantation counters," said Cheah King Yoong, head of research at SJ Securities.
He said selling of plantation stocks had little to do with reports of a super merger involving three of Malaysia's largest plantation companies - Golden Hope Plantations, Sime Darby and Kumpulan Guthrie.
Golden Hope Plantations, Sime Darby and Kumpulan Guthrie Thursday announced the suspension of trade until the close of trade on November 28 ahead of a "major corporate exercise."
Maxis Communications rose 0.55 ringgit to 9.95 after its third-quarter net profit came in better than expected on strong net subscriber growth. Among the heavyweights, Tenaga and Maybank were flat at 10.80 ringgit and 11.20, respectively, while TM gained 0.05 ringgit to 9.
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