Malaysian share prices closed flat in lacklustre trade on Tuesday, with most investors sidelined as the market continued to digest news about Sunday's earthquake and resulting tsunamis which devastated coastal areas around the region, dealers said. For the moment, the overall view is that while localised damage may be considerable, the region as a whole is unlikely to see any major economic impact, especially since no major infrastructure appears to have been hit.
The Kuala Lumpur Composite Index closed down 0.34 points or 0.04 percent at 906.55. Volume was 386.65 million shares worth some 552 million ringgit (145 million dollars).
Gainers led losers 344 to 337, with 316 stocks unchanged.
"There may be a short-term impact on the tourism sector as foreigners would be fearful of travelling to this region but I expect people to recover (from the disaster) after some time," a head of research at a local brokerage said.
He added that the market is likely to remain sluggish due to the year-end holidays but "we remain positive on the first quarter of next year."
"There's a lack of positive news in the market. Investors were cautious as it's the year-end and prefer to take positions after the New Year," an institutional dealer at a local brokerage said.
Tenaga Nasional and Maybank closed flat at 11.00 ringgit and 11.80 respectively, while Telekom Malaysia rose 0.20 to 11.90.
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