Malaysian share prices ended 0.9 percent lower on Wednesday amid concerns over the health of US financial institutions and political turmoil in the country, dealers said. The Kuala Lumpur Composite Index fell 9.38 points to close at 1,002.99, just houts after the US Federal Reserve announced an 85 billion dollar bailout for troubled insurance giant AIG.
"The US Fed's AIG rescue plan may have a calming effect on other markets," one dealer told Dow Jones Newswires. "But the KLCI is likely to stay under pressure on rising political tensions." The market closed on thin trading with a volume of 367.16 million shares worth 802.67 million ringgit (232.52 million dollars).
Losers were led by the country's largest bank by asset sise, Maybank, which fell 6.8 percent to 6.90 ringgit while gaming giant Genting lost 2 percent to 4.82. State communications giant Telekom Malaysia rose 1.2 percent to 3.50, local stock market operator Bursa was up 0.8 percent to 6.30 and MMC Corp increased 2.4 percent to 2.15.
Comments
Comments are closed.