Malaysian share prices closed 0.94 percent lower on Monday in listless trade as most investors stayed on the sidelines amid rising global oil price concerns, dealers said. The Kuala Lumpur Composite Index fell 8.38 points to 885.62. Volume was 445.86 million shares worth 870.37 million ringgit (229 million dollars), with 609 losers against 160 gainers. "It was a disappointing day. The market was on the downward trend all day," a local brokerage dealer said.
He said the trend was expected to continue but the central bank's annual report to be released Wednesday could provide some short term leads to the market.
Other dealers said concerns over a price war among tobacco firms and fears that Malaysia's impending ratification of an international treaty on tobacco control could limit the sector's marketing activities also dampened sentiment.
Among blue chips, power firm Tenaga Nasional shed 0.20 ringgit at 10.20, Telekom Malaysia eased 0.10 to 10.20 while top bank Malayan Banking fell 0.30 to 11.60.
Tobacco stocks British American Tobacco (Malaysia) Bhd lost 0.75 at 43.00 and JT International dipped 0.02 at 4.48 on weaker prospects for the sector due to possible government action.
Stock exchange operator Bursa Malaysia dropped 0.10 to 3.60 on profit taking after a sharp rise following its debut on Friday.
Setron Malaysia rose 0.035 to 0.735 on talk that businessman Halim Saad may be interested in taking over the electronic product assembler.
Camerlin Group gained 0.02 to 1.20 after saying it has received a mandatory general offer from Hong Kong-listed Guoco Group Ltd's unit, Brightspring Holdings, for the remaining shares that it does not own.
Seloga Holdings was up 0.18 to 1.37 on talk that major shareholder Halim Saad may inject his majority stake in an African oil block he recently bought from Britain's Sterling Energy PLC into the firm.
Avenue Capital rose 0.06 to 0.67 on talk that it may be the next government-linked company to undergo a major revamp.