Published: 2009/10/23
MALAYSIAN shares ended up 0.56 per cent today in a muted response to the 2010 budget, which focused on reining in government spending and reducing the deficit, dealers said.
The Kuala Lumpur Composite Index rose 7.08 points to 1,267.10.
“Buying interest was largely driven by local government-led funds with the focus on big cap stocks throughout the day,” one dealer told Dow Jones Newswires.
“Budget headlines were very much within expectations and there were no major positive surprises aside from the government’s plan to bring down the 2010 deficit to RM40.5 billion or 5.6 per cent of GDP,” he said.
Among major stocks, Sime Darby rose 2.4 per cent to RM9.07
, CIMB gained 1.4 per cent to RM12.74 and IJM Land lost 2.7 per cent to RM2.49. - AFP