Malaysian share prices closed 0.34 percent higher on Wednesday, extending gains after a positive close on Wall Street overnight, dealers said. However sentiment remained cautious ahead of the outcome of the US Federal Open Market Committee meeting later Wednesday, they said.
The Kuala Lumpur Composite Index rose 4.06 points to 1,209.34 on volume of 1.46 billion shares worth 1.67 billion ringgit (481 million dollars). Gainers led losers 458 to 342, with 322 stocks unchanged. The ringgit was at 3.4740/4790 to the dollar at the close. "Sentiment is slightly cautious ahead of the US FOMC," said MIMB Research technical analyst Lee Cheng Hooi.
"But I think the current trend is quite healthy as world markets have shown improvement," he said, noting that regional bourse, such as Hong Kong and the Philippines closed higher in Wednesday's trade.
Among blue chips, Tenaga fell 0.10 ringgit to 11.50 and Maybank lost 0.10 ringgit to 12.60, while Telekom Malaysia was unchanged at 10.00 ringgit. Proton was higher after its controlling shareholder, Khazanah Nasional, said the ailing carmaker is still in discussions with Volkswagen and General Motors over a possible strategic alliance. The stock added 0.15 ringgit to 7.00.
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