Malaysia's key share index ended lower on Tuesday as bigger issues retraced recent gains while chipmakers like Unisem bucked the trend on signs of rising global electronics demand.
The benchmark Kuala Lumpur Composite Index gave up 0.70 percent or 5.73 points to 812.06, after trading within a nine-point band. A total 458 million shares changed hands, versus 504 million on Monday. Losers beat gainers 527 to 227.
Chipmaker Unisem gained nearly one percent while integrated circuits assembler Globetronics Technology jumped 4.4 percent after data out on Monday confirmed global electronics demand is on the mend.
The numbers showed Malaysia's industrial production grew at its fastest pace in three years in December, as manufacturers raised output to meet the increasing electronics uptake.
In the broader market, dealers said optimism about chipmakers was offset by profit-taking activities after the key index gained 1.6 percent during the past three trading days.
Heavyweights such as Tenaga Nasional and Petronas Gas surrendered some of their recent gains to close down 2.7 percent at 9.20 ringgit and down two percent at 7.20 ringgit respectively.
On Monday's high-profile arrest of businessman Eric Chia Eng Hock failed to stoke buying interest.
Chia pleaded not guilty on Tuesday to a charge of criminal breach of trust. "We see this as a positive move, but the market is expecting more," a fund manager said.
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