Malaysian share prices closed 0.40 percent lower on Tuesday in listless trade as profit-taking led to a sell down in the blue chips, dealers said. The Kuala Lumpur Composite Index fell 3.57 points at 881.87. Volume was 487.64 million shares worth 940.47 million ringgit (248 million dollars), with 541 losers against 201 gainers. Dealers said the overnight gains in the US market and a drop in crude oil prices encouraged some early bargain hunting but profit taking set in late morning and the market went into the red from then on.
The general lack of interest in the market was due to the absence of strong positive leads, a local brokerage dealer said.
"It has to consolidate for a while before the next wave," he said, adding that lack of fresh leads kept trading cautious.
Power firm Tenaga Nasional and top bank Malayan Banking shed 0.10 ringgit each at 10.20 and 11.80 respectively.
Telekom Malaysia eased 0.05 at 9.85. PSC Industries was down 0.07 at 1.40, having made early gains on persistent talk that Boustead Holdings has applied to the authorities to buy businessman Amin Shah Omar Shahs stake in the company, dealers said.
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