Malaysian share prices closed 0.28 percent lower Wednesday in thin trade as investors avoided taking an aggressive stance ahead of key economic growth data, dealers said.
They said investors were also concerned over a potential interest rate hike of up to 25-30 basis points while lacklustre regional sentiment had left the local market uninspired.
The Kuala Lumpur Composite Index was down 2.50 points at 896.13. Volume was 288.94 million shares, worth 682.35 million ringgit (181 million dollars) while losers outnumbered gainers 399 to 255.
The ringgit was traded at 3.7798 to the US dollar.
"I guess the best option for investors now is to keep away from the market, until a clearer picture of economic growth and monetary policy emerges," a local brokerage dealer said.
Judging from the market development Wednesday, it seems that investors are not optimistic, he added.
Among blue chips, Tenaga Nasional was up 0.05 ringgit at 9.80 on hopes that the company may be given a tariff hike.
Energy, Water and Communications Minister Lim Keng Yaik reportedly said that the government will decide on the request from the national utility company for higher power prices by January.
Telekom Malaysia was down 0.05 at 9.55 ringgit after reporting in-line results for the third quarter to September and Malayan Banking fell 0.20 to 11.20.
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