Malaysian share prices closed down 0.9 percent Wednesday in line with regional markets as investors fretted over the health of the US economy and rising oil prices, dealers said. They said the loss was made worse by the steep fall of national carmaker Proton, as cautious investors feared for its future after Malaysia shelved strategic tie-up talks with Volkswagen.
The Kuala Lumpur Composite Index was down 11.85 points at 1,359.85, off a low of 1,358.22 and a high of 1,375.57, on volume of 1.01 billion shares worth 1.7 billion ringgit (500 million dollars). Decliners outnumbered advancers 711 to 164.
National carmaker Proton fell to a near 10-year low, down 92 sen to 4.02 ringgit after Malaysia called off negotiations with Volkswagen. Among index heavyweights, state-run Telekom Malaysia lost 10 sen to 10.60 ringgit, while national power company Tenaga was flat at 9.00 ringgit. Maybank, Malaysia's largest bank inched up 10 sen at 11.50 ringgit.