Malaysian shares prices closed 0.36 percent lower on Tuesday in listless trade on a lack of fresh leads, dealers said. They said assurances from the government that it is on track to achieve its budget deficit target were seen as positive but investors preferred to wait for the 2006 budget, due September 30, for a clearer lead before taking fresh positions.
The Kuala Lumpur Composite Index lost 3.35 points at 915.72. Volume was 418.32 million shares worth 644.80 million ringgit (171 million dollars). Losers outnumbered gainers 357 to 308.
The ringgit was steady at 3.7695 to the US dollar.
Among blue chips, Tenaga Nasional and Malayan Banking were all flat at 10.60 ringgit and 11.50, respectively. Telekom Malaysia lost 0.10 to 10.20.
Time dotCom gained 0.015 to 0.525 on a report that it is planning to apply for a third-generation (3G) services license. Sime Darby was unchanged at 6.10 ringgit, after saying that its wholly-owned subsidiary Sime Singapore will acquire Australian car dealership group PPT Investments.