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MARKET COMMENT: Malaysian Shares End +0.5%; 1600 Support Tipped

02/22/2013 | 04:45am US/Eastern

0928 GMT [Dow Jones] Malaysian shares end 0.5% higher at 1622.08, lifted by gains in select financial and telco stocks. The index remains biased to the downside as "election caution will dominate trading sentiment as we head into March," a local dealer says, and pegs next week support at 1600. Market breadth ends positive at 382 gainers to 251 losers, with a total volume of 798.7 million shares. Among gainers, UEM Land Holdings Bhd (5148.KU) ends up 2.7% at MYR2.28, IOI Corp. Bhd (1961.KU) is up 2.7% at MYR5.03 and Petronas Dagangan Bhd (5681.KU) rises 2.5% to MYR23.36. Among losers, YTL Power International Bhd (6742.KU) ends down 1.3% at MYR1.52, Petronas Chemicals Group Bhd (5183.KU) eases 1.3% to MYR6.21 and DiGi.com Bhd (6947.KU) is down at 0.7% at MYR4.55. (shie-lynn.lim@dowjones.com)

 
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