Malaysian share prices closed 0.19 percent lower on Friday in line with regional markets, triggered by renewed concerns over the US economy, dealers said. The Kuala Lumpur Composite Index was down 2.53 points at 1,356.84, off a low of 1,351.03 on volume of 1.099 billion shares valued at 1.853 billion ringgit (545 million dollars).
Losers led gainers 483 to 376, with 302 unchanged. At the close, the ringgit was quoted at 3.4013/4063 against the dollar. "The key index, unexpectedly, held firm above 1,350 points despite the weak regional markets, which were sparked by renewed concerns over the US economy. This reflects pretty firm underlying strength of the local bourse," he said. Index heavyweights ended the day largely unchanged as Tenaga was steady at 11.60 ringgit, Telekom Malaysia at 9.95 and Maybank at 12.50.
Among palm oil stocks, dealers said investors switched to medium-size plantation stocks after palm oil heavyweights such as IOI Corp turned expensive. IJM Plantations rose 0.08 ringgit to 2.12, TH Plantations gained 0.10 to 3.60 and Asiatic was up 0.30 to 6.50.