Malaysian share prices closed 0.5 percent lower on Friday due to profit-taking on continued fears over the US economy and domestic political concerns, dealers said. The Kuala Lumpur Composite Index lost 6.51 points to 1,194.84 with a volume of 516 million shares worth 1.2 billion ringgit (379 million dollars) while decliners led advancers 427 to 278 with 256 unchanged and 463 untraded.
"The market was flat today, with lots of profit-taking," said Lee Cheng Hooi, an analyst at MIMB Investment bank. "We see the market going down next week on continued concerns about the uncertain domestic outlook after the general election as well as worries over the US economy," he said. Malaysia's political landscape was sharply changed in recent polls, when the opposition made substantial inroads even as the ruling party retained government.
Among index heavyweights, national power utility Tenaga Nasional rose 10 sen to 6.95 ringgit while Telekom Malaysia was steady at 10.40 and Malaysia's largest bank, Maybank, added five sen to reach 8.50.