Malaysian share prices closed 0.14 percent lower on Thursday after overnight falls on Wall Street although plantation stocks continued to attract support after positive comment on the palm oil industry outlook, dealers said.
They said the plantation index bucked the trend, gaining 22.22 points or 0.78 percent to 2,867.96, on expectations of higher crude palm oil prices.
The Kuala Lumpur Composite Index shed 1.26 points to 926.25 and volume traded was 467.83 million shares, worth 779.87 million ringgit (206.82 million dollars) while losers outnumbered gainers 457 to 245.
The ringgit traded at 3.7708 to the US dollar and 4.5461 to the euro.
"The market was lower due to the steep fall on Wall Street overnight and after yesterday's increase, some profit-taking is to be expected," said a local brokerage dealer, adding the decline was in line with falls in regional markets.
US stocks tumbled Wednesday over heightened concerns about inflation, higher interest rates and slower economic growth.
Among blue chips, Tenaga Nasional, Telekom Malaysia and Malayan Banking were all flat at 10.80 ringgit, 10.30 and 11.50 respectively.
Among Malaysian plantation stocks, IOI Corp was up 0.30 at 12.60, Kuala Lumpur Kepong gained 0.10 to 8.10, Sime Darby rose 0.05 to 6.20 and PPB Oil Palms was steady at 4.92.
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