Malaysian share prices closed 1.0 percent lower on Monday amid profit-taking and concerns over a global economic slowdown, dealers said. The Kuala Lumpur Composite Index shed 10.69 points to end at 1,084.36 in modest volume of 333.2 million shares worth 651 million ringgit (195.5 million dollars). Decliners outpaced gainers 410 to 121.
Dealers said mild bargain-hunting by government-led funds helped narrow losses. They said investors remained concerned over domestic politics ahead of a key by-election in northern Penang state on August 26, which will be contested by opposition leader Anwar Ibrahim. "Rising political risk ahead of the by-election which Anwar Ibrahim plans to contest is the key reason for these jitters," a dealer told Dow Jones Newswires.
Among decliners, KNM fell 11 percent at 1.46, Gamuda was down 7.6 percent at 2.79 ringgit while Sime Darby shed 3.8 percent at 2.96 ringgit. On the gainers list, Commerce-Asset added 2.0 percent at 7.80 ringgit, PLUS Expressways was 1.5 percent higher on recent declines in crude oil prices, while KL Kepong added 2.6 percent at 11.90 ringgit.
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