Malaysian shares closed up 0.43 percent Monday, in line with regional markets, as investors were boosted by a 10 billion dollar bailout for Dubai from oil-rich Abu Dhabi, dealers said. The Kuala Lumpur Composite Index gained 5.45 points to close at 1,265.45 with a volume of 515.40 million shares worth 707.07 million ringgit (207.50 million dollars).
There were 250 gainers, 361 losers and 228 counters unchanged. "Late bargain hunting, particularly among construction stocks, drove the index higher the more positive regional sentiment also provided a boost," a dealer told Dow Jones Newswires. The dealer said Asian markets rebounded in the afternoon following the Dubai announcement.
On the upside, interior services firm LCL rose 4.5 percent to 0.23 ringgit as gaming giant Genting Malaysia climbed 1.4 percent to 2.84 ringgit. Decliners included tobacco company BAT which slid 1.1 percent to 42.50 ringgit while offshore marine services provider Petra Perdana fell 13.4 percent to 1.36 ringgit.