Malaysian shares rose 0.6 percent Wednesday, as a rally that began in the opening sessions of the New Year began to dwindle, dealers said. The Kuala Lumpur Composite Index gained 5.39 points to close at 927.62. Decliners outnumbered advancing stocks 306 to 228.
"The KLCI has climbed some 6.8 percent over the last four trading days partly as a result of the 'January' effect," a dealer told Dow Jones Newswires. "Profit-taking so far has been relatively muted, suggesting there may be more upside to this rally," he said.
The dealer also said plantation stocks may lead the market higher in coming days to around the 950 level. Among leading stocks, Bumiputra-Commerce was up 7.7 percent at 7.00 ringgit, KL Kepong rose 4.0 percent to 10.40 ringgit and Parkson lost 16.4 percent to 3.58 ringgit.
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