Malaysian share prices closed 0.60 percent lower on Wednesday on extended profit-taking amid a generally lacklustre market, dealers said. The Kuala Lumpur Composite Index closed down 8.25 points at 1,369.23 on turnover of 1.29 billion shares worth 2.09 billion ringgit (607.56 million dollars) while losers led gainers 614 to 300, with 274 stocks unchanged.
The ringgit was quoted at 3.4500 against the dollar at the close. "The market has been lacklustre and continues to be in consolidation mode due to a lack of fresh local leads," said Stephen Soo, technical analyst at TA Securities.
"An element of caution has also crept in due to geopolitical concerns over US President George Bush's handling of the Iraq situation as well as fresh bombings in Southern Thailand," he said.
Index heavyweights Telekom Malaysia edged up 0.10 ringgit at 10.30, while the country's largest lender Maybank, was flat at 12.20 ringgit and state-owned power firm Tenaga Nasional was down 0.20 ringgit at 11.40.
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