Malaysia's key stock index falls in debut on economic concerns

The 102-member Kuala Lumpur Composite Index, known as KLCI, ended its run Monday, replaced by a smaller gauge that focuses on the 30-biggest companies by market value and the most tradable. The measure declined 0.9 percent to 1,063.39 as of 10:52 a.m. in Kuala Lumpur.

“The new index is good going forward, but at this point in time, sentiment is mainly on the macro side, on the region and the world,” Lye Thim Loong, who helps manage about US$500 million of assets at Avenue Invest Bhd. in Kuala Lumpur, said by phone Monday.

The new FTSE Bursa Malaysia KLCI gauge is part of the stock exchange operator's revamp of its indexes in its biggest overhaul to attract more investors in Southeast Asia's worst performing market. The Composite Index, which was introduced in Jan. 2, 1986, has climbed 21 percent this year, trailing behind its regional peers.

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