Malaysian share prices closed 0.73 percent lower Wednesday in listless trade on lingering concerns over high oil prices and with sentiment further undermined by weak futures contracts, dealers said.
The Kuala Lumpur Stock Exchange composite index fell 5.91 points to 806.36 on volume of 263.8 million shares worth 463 million ringgit (121.84 million dollars). Losers led gainers 521 to 255.
"The market trended lower in the afternoon as some investors turned cautious following the decline in regional bourses and on continued concerns over higher oil prices," a local brokerage dealer said.
The fact the futures market was trading at a 20-point discount to the cash market also sparked some selling and this was further exacerbated by a lack of buying support, he said.
"With most investors either away ... or on the sidelines, the decline in the market looks sharper because of the lack of buying support," he added.
Among blue chips, Telekom Malaysia gained 0.10 ringgit to 10.10 on the possible purchase of a stake in India's Idea Cellular but power firm Tenaga Nasional fell 0.20 at 9.35 and top bank Malayan Banking dipped 0.20 to 10.00.
Casino operator Genting slipped 0.60 to 14.90 ringgit while unit Resorts World eased 0.05 to 8.95.
Malaysia Airlines fell 0.04 to 4.70 ringgit and Transmile dropped 0.35 to 6.15 on renewed concerns over rising oil prices.
Debut stock GPRO Technologies was up 0.105 at 0.505 ringgit, with investors still managing to show some interest interest in new listings.
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