Malaysian share prices closed 0.55 percent higher Monday on support for selected blue chips after last Friday's sharp gains on Wall Street, dealers said.
However, trading remained sluggish ahead of a holiday Tuesday for the Hindu Deepavali festival, and on November 3 and 4 for the Muslim Hari Raya Aidil Fitri, with many investors already on holidays, they added.
The Kuala Lumpur Composite Index rose 4.97 points to 910.76 and volume traded was 237.45 million shares worth 519.62 million ringgit (137.65 million dollars), while gainers outnumbered losers 368 to 233. The ringgit was traded at 3.7748 to the US dollar and 4.5562 to the euro.
"The KLCI was higher on light bargain hunting in selective blue chips by institutional funds following stronger gains on Wall Street last Friday but trading remained sluggish with many investors already on holiday," a local brokerage dealer said.
Among blue chips, Tenaga Nasional was down 0.10 ringgit at 10.0 while Telekom Malaysia and Malayan Banking were up 0.10 at 9.85 and 11.60 respectively.
Mobile operator DiGi.com was flat at 6.95 after earlier losses on profit-taking after two days of gains, dealers said.