Malaysia Shares End +0.2%; Likely To Hug 1650

22 Aug 2012

Malaysia shares end up 0.2% at 1652.25 after hitting a record high of 1655.39 with all major sectors stading firm in positive territory; analysts say most technical indicators remain positive, buy it is crucial for the benchmark KLCI to remain above 1650 for longer-term gains.   "The KLCI will probably hug the 1650 support line in the near term without stronger buying cues but a slip below that would be a signal to take profit," says an analyst with a local brokerage.  Market breadth ends slightly positive at 392 gainers and 366 losers with total volume of 1.33 billion shares. Among gainers, Malayan Banking (1155.KU) finishes up 1.6% at MYR9.19, YTL Corp. (4677.KU) is up 1.1% at MYR1.88 and Tenaga Nasional (5347.KU) is up 0.6% at MYR6.84