Malaysian share prices closed 0.9 percent lower Monday as investors opted to take profits ahead of the US Federal Reserve's interest rate policy meeting on Tuesday, dealers said. They said late falls were also in line with a regional sell-off prompted after a run on British mortgage lender Northern Rock, seen as the latest victim in the subprime lending fiasco.
The Kuala Lumpur Composite Index (KLCI) closed down 11.16 points at 1,278.34, off a high of 1,293.43 and a low of 1,276.83. Volume traded was 600.820 million shares worth 918.778 million ringgit (263.26 million dollars) while losers led gainers 717 to 139 and 213 stocks were unchanged.
Index heavyweights closed mostly lower, with state-run Telekom Malaysia falling 0.05 ringgit to 9.50 and Malaysia's largest bank Maybank down 0.10 at 11.30 ringgit. Utility firm Tenaga Nasional was unchanged at 9.65.
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