Malaysian share prices closed up 0.9 percent on Monday with investor sentiment boosted by a rally across the region, dealers said. The Kuala Lumpur Composite Index rose 11.30 points to 1,317.24. Trading volume was 1.145 billion shares, valued at 1.828 billion ringgit (529 million dollars). Gainers led losers 515 to 314.
Meanwhile, the ringgit was quoted at 3.4275/4320 against the dollar. "Monday's market rally was mainly driven by local funds aggressively buying into some big-cap government-linked companies," said Pong Teng Siew, the head of research at MIMB Investment Bank.
Pong said the bourse could edge up higher based on encouraging trading volume. Maybank, Malaysia's largest bank, closed up 10 sen at 11.20 ringgit, while state-run Telekom Malaysia was steady at 9.55. National Power Company Tenaga Nasional gained 45 sen at 9.95.
Tradewinds Corp Bhd closed down two sen to 1.31 after the company said it would pay 15.5 million ringgit to acquire a hotel developer in Bosnia. Malyasia's smallest telecommunication company Digi gained 50 sen to 19.80, plantation stock Sime Darby was up 25 sen at 10.20 and PPB Group advanced 25 sen to 8.55.
Loss-making car company Proton finished flat at 5.30 after it was reported that Volkswagen AG chief executive Martin Winterkorn will visit Malaysia in the next few weeks to conclude a deal.
Comments
Comments are closed.