Malaysian shares dip

Malaysian share prices closed 0.5 percent lower Wednesday, as cautious investors took advantage of the market's relative strength and sold some of their holdings for profit, dealers said. The Kuala Lumpur Composite Index was down 6.23 points to 1,281.20.
Decliners led advancers 390 to 270, and trading volume was 531 million shares valued at 1.3 billion ringgit (401 million dollars). National carrier Malaysian Airlines closed down 2.2 percent at 3.62 ringgit after its first-quarter net profit slid 10 percent to 120 million ringgit.
Air Asia, the largest budget airline in Southeast Asia, fell 3.6 percent to 1.08 ringgit. Among index heavyweights, national power company Tenaga was flat at 6.85 ringgit, Telekom Malaysia lost 2.4 percent at 3.30 ringgit and Maybank, dropped 0.6 percent to 7.75 ringgit.