Malaysian share prices closed 1.39 percent lower Friday in line with weaker regional markets as investors fretted over record oil prices and tensions in the Middle East, dealers said. The Kuala Lumpur Composite Index shed 12.92 points to 913.63. Volume was 1.16 billion shares worth 1.24 billion ringgit (338 million dollars).
Losers beat gainers 827 to 90, with 164 stocks unchanged. The ringgit was at 3.6705/6755 to the dollar at the close. A local brokerage dealer said both blue chips and second-liners, which posted decent gains earlier in the week, were not spared Friday.
Sharp falls in the smaller stocks are expected to hurt retail investor sentiment, he said, adding that it may take time for confidence to recover. "At this juncture, investors are advised to take a wait-and-see attitude. Let's see how the US and the regional markets do next week," he added.
With the benchmark index breaching a key support level at 916 points, the market's next immediate support range is at 900-906 points, dealers said. Among blue chips, Tenaga closed flat at 9.20 ringgit, Telekom Malaysia was down 0.05 ringgit at 9.05 and Maybank fell 0.20 ringgit at 10.40.
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