MALAYSIAN shares closed down 0.9 per cent today due to declines on Wall Street and weaker regional markets, dealers said.
The Kuala Lumpur Composite Index lost 7.82 points to 868.74, with decliners outpacing gainers 277 to 172.
“Negative cues from Wall Street and weaker regional markets pressured retail players to unwind positions. However, buying interest from local funds helped mitigate the sell off to some degree,” a dealer told Dow Jones Newswires.
“Many are still pinning hopes on the (March 10) mini budget to revive our flagging economy,” the dealer said, referring to a second economic stimulus package.
Prime Minister Datuk Seri Abdullah Ahmad Badawi has said the package, aimed at helping companies and workers affected by the global slowdown, will be far bigger than the RM7 billion (US$1.9 billion) measure announced last year.
Among decliners, Resorts World was down 2.8 per cent to RM2.05, IOI Corp lost 1.6 per cent to RM3.60 while Genting slid 2.4 per cent to RM3.32.
On the upside, TMI gained 2.2 per cent to RM2.75 while Kian Joon rose 2.6 per cent to RM1.19. - AFP
The Kuala Lumpur Composite Index lost 7.82 points to 868.74, with decliners outpacing gainers 277 to 172.
“Negative cues from Wall Street and weaker regional markets pressured retail players to unwind positions. However, buying interest from local funds helped mitigate the sell off to some degree,” a dealer told Dow Jones Newswires.
“Many are still pinning hopes on the (March 10) mini budget to revive our flagging economy,” the dealer said, referring to a second economic stimulus package.
Prime Minister Datuk Seri Abdullah Ahmad Badawi has said the package, aimed at helping companies and workers affected by the global slowdown, will be far bigger than the RM7 billion (US$1.9 billion) measure announced last year.
Among decliners, Resorts World was down 2.8 per cent to RM2.05, IOI Corp lost 1.6 per cent to RM3.60 while Genting slid 2.4 per cent to RM3.32.
On the upside, TMI gained 2.2 per cent to RM2.75 while Kian Joon rose 2.6 per cent to RM1.19. - AFP
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