Malaysian share prices closed 0.92 percent lower on Wednesday on speculation the government may announce measures to tighten credit and as regional markets faltered on concerns over the prospect of generally higher interest rates, dealers said.
Banking stocks led the slide, while investors were also sidelined ahead of the release of Malaysia's national auto policy, they said.
The Kuala Lumpur Composite Index shed 8.47 points to 914.17 and volume was 511.02 million shares worth 865.66 million ringgit (299.37 million dollars) while losers outnumbered gainers 664 to 122. The ringgit stood at 3.7740 to the US dollar and 4.5080 to the euro.
"The market was dragged down by the losses of financial stocks that make up a fifth of the key index," a local brokerage dealer said.
"Overall, the market was weak as most investors also stayed on the sidelines ahead of the National Automotive Policy."
Among blue chips, Tenaga Nasional and Malayan Banking were down 0.20 ringgit and 0.10, at 10.50 and 11.50, respectively, while Telekom Malaysia was flat at 10.10.
Banking group Commerce Asset Holdings was unchanged at 5.60, AMMB dropped 0.08 to 2.38, Southern Bank was down 0.04 at 3.44 and RHB Capital eased 0.07 to 2.37, while Malaysian Plantations shed 0.02 to 2.35.
Public Bank, Malaysia's second-largest lender by market capitalisation, dropped 0.15 to 6.55 after posting earlier gains following its report of improved third quarter to September results.
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