Malaysian continued their upward momentum on Tuesday, closing the year higher.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 4.65 points to end 0.28% higher at 1,642.33. The day range was between 1,632.85 and 1,644.54.

In economic news, Malaysia's official reserve assets amounted to $118.35 billion, while other foreign currency assets stood at $255.72 million as at end-November, said Bank Negara Malaysia said.

In corporate news, shares of Minho (M) (KLSE:MINHO) jumped over 5% after it started the member's voluntary winding up of its dormant unit Lionvest Plantation.

Well Chip (KLSE:WELLCHIP) is planning to acquire three pawnbroking firms for 63.4 million ringgit to expand its footprint in Malaysia. The pawnbroker proposed to acquire Pajak Gadai Koong Sing, Lian Foh Pawnshop and Fook Foh Pawnshop from their respective shareholders

TT Vision Holding (KLSE:TTVHB) unit TT Vision Technologies secured purchase orders worth 8.7 million ringgit for its machine vision equipment.

Malaysia Airports (KLSE:AIRPORT) unit Malaysia Airports (Properties) signed a settlement deal with Kuala Lumpur Aviation Fuelling System (KAFS) over the amount of the arbitral award from a 2015 dispute. The case, which started from a deal between KAFS and MA Properties, led to a ruling in favor of KAFS in 2018.