Malaysian share prices closed 0.32 percent lower on Tuesday on renewed concerns over oil after the price of crude broke through 64 dollars a barrel, dealers said. Sentiment was also weighed down by lower than expected industrial production data and an anticipated interest rate rise in the US, they said.
The Kuala Lumpur Composite Index was down 3.08 points to 944.94 and volume traded was 421.34 million shares worth 592.39 million ringgit (157.97 million dollars) while losers outnumbered gainers 515 to 234. At the close, the ringgit was at 3.75 against the US dollar. "External concerns have weighed on investors' sentiment. The market will stumble if there is no check to the rising oil price," a local brokerage dealer said.
Among blue chips, Tenaga Nasional was up 0.10 ringgit at 11.40, Telekom Malaysia lost 0.10 to 11.10 while Malayan Banking was unchanged at 11.50.
Johor Port was down 0.04 at 2.04 on profit-taking, after rising sharply yesterday on speculation that businessman Syed Mokhtar Albukhary was planning to take Johor Port private by making a share purchase offer.
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