Malaysian shares slightly down

30 May, 2006

Malaysian share prices closed 0.26 percent lower on Monday in thin trade with institutional investors shunning blue chips following a spate of uninspiring corporate results, dealers said.
The Kuala Lumpur Composite Index shed 2.38 points to 928.37 and volume traded was 464.41 million shares worth 667.85 million ringgit (183.73 million dollars).
Losers outnumbered gainers 524 to 228, with 245 counters unchanged and 321 untraded.
The ringgit was traded at 3.635 to the dollar and 4.632 to the euro.
"Going by today's trading pattern, it's obvious the market's sustainability remains in doubt as indicated by shrinking volumes since the second half of last week," a local brokerage dealer said.
"While this Wednesday's first quarter gross domestic product (GDP) figures might offer some fresh leads, they are basically being discounted by the market," he added.
Genting Bhd shed 0.60 ringgit or 2.54 percent to 23.00 following Friday's news that the local casino operator lost the bid to participate in Singapore's Marina Bay integrated resort project.
Telekom Malaysia closed flat at 9.10 ringgit, Tenaga Nasional was down 0.05 ringgit at 9.20, while Malayan Banking was up 0.20 ringgit at 10.80.

Read Comments