Malaysian share prices closed 0.26 percent higher on Friday in volatile trade, with late buying of big-caps boosting the key index to its fourth successive all-time high, dealers said. The Kuala Lumpur Composite Index was up 3.61 points at 1,391.57, after trading to a low of 1,382.26 during the day.
Trading volume was 1.65 billion shares, valued at 2.72 billion ringgit (788.4 million dollars), while gainers led losers 571 to 343 and 280 stocks were unchanged. At the close, the ringgit was quoted at 3.4500/4550 against the dollar.
Gains in plantation, property and oil and gas stocks also helped to support the market, said Aseambankers Research investment analyst Tee Sze Chiah. TA Securities said the market underwent some consolidation earlier after rising sharply for four straight days this week following the breakout rally on Monday.
Amid intermittent profit-taking, late gains by big caps Tanjong, which rose 0.30 ringgit to 19.20, and Petronas Dagangan, which closed up 0.25 ringgit at 8.25, helped to lift the market.
Index heavyweights Telekom Malaysia was down 0.10 ringgit at 10.80, while national utility Tenaga was up 0.10 at 11.70 and the country's largest banking group Maybank added 0.10 to 12.50. Plantation firms IOI Corp rose 0.10 ringgit to 5.40 and Kuala Lumpur Kepong gained 0.20 to 13.50.
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