Malaysian Stock Market Ends Marginally Higher

KUALA LUMPUR, Nov 23 (Bernama) -- The Malaysian stock market (Bursa Malaysia) ended marginally higher in cautious trading, with buying interspersed with profit-taking throughout the trading session, dealers said. At the closing bell, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.26 of-a-point to close at 1,695.88 from Thursday's close of 1,695.62. After opening 0.85 of-a-point better at 1,696.47 this morning, the benchmark index moved in a tight range at between 1,689.14 and 1,696.54 throughout the day. Market breadth, however, was negative, with losers thumping gainers 597 to 236, while 342 counters were unchanged, 733 untraded and 20 others suspended. Volume decreased to 1.58 billion units worth RM1.10 billion from 1.75 billion units worth RM1.44 billion on Thursday. The dealers said trading was cautious as investors dwelled on risks from a drawn out trade dispute between the US and China, while Wall Street was closed Thursday for Thanksgiving and investors were struggling for direction. Meanwhile, on the local front, last-minute buying of heavyweight stocks, such as Maybank, TNB and Hong Leong Bank, helped to lift the market. Maybank gained three sen to RM9.42, TNB added two sen to RM14.80, Hong Leong Bank rose 10 sen to RM20.68 while Public Bank was flat at RM24.80. Petronas Chemicals and CIMB fell two sen each to RM9.22 and RM5.63 respectively. For active stocks, MyEG increased two sen to RM1.12, Sanichi improved one sen to 16 sen while Hibiscus Petroleum and Bumi Armada fell one sen each to RM1.02 and 32 sen respectively. -- BERNAMA