KL shares close mixed

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. trading close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 0.23 point, or less than 0.1 per cent, to 1,503.30.

Alliance Financial Group Bhd, a banking group, rose 2 per cent to RM3.52, its highest close since Aug. 4. Alliance’s share-price estimate was raised to RM4.19 from RM3.70 to reflect its earnings and dividend growth prospects, Hong Leong Investment Bank Bhd wrote in a report today.

Esso Malaysia Bhd dropped 19 per cent to RM4.03, its steepest drop on record. San Miguel Corp agreed to buy Exxon Mobil Corp.’s 65 per cent stake in Esso Malaysia for about US$206 million, or RM3.50 a share, according to a company statement. The acquisition price represents a 29 per cent discount to Esso Malaysia’s closing price of RM4.95 yesterday.

Malaysia Airports Holdings Bhd climbed 2.3 per cent to RM6.65, a record close, after the stock was raised to “buy” from “sell” at Citigroup Inc, which said higher passenger service charges and aircraft landing and parking fees will help bolster earnings. -- Bloomberg