Malaysian shares down

Malaysian shares closed down 0.41 percent Monday following losses on regional bourses and Wall Street overnight, dealers said. The Kuala Lumpur Composite Index shed 4.92 points to close at 1,203.36 with a volume of 547.71 million shares worth 951.26 million ringgit (271.13 million dollars). There were 149 gainers, 511 losers and 197 counters traded unchanged.
"Buying interest in financials and shares of some government-led companies helped buoy the market in early trade but momentum waned later in the day," a dealer told Dow Jones Newswires. "If selling pressure persists, the index could easily breach psychological support at 1200 and fall to 1196," the dealer said.
State telecommunications giant TM slid 0.3 percent to 3.10 ringgit while gaming giant Genting Malaysia dropped 2.4 percent to 2.81 ringgit. Gainers included CIMB bank, which climbed 1.5 percent to 11.10 ringgit while developer IJM Land rose 1.9 percent to 2.19 ringgit.