KUALA LUMPUR: Bursa Malaysia started the day flat as the value of the ringgit versus US dollar remains an ongoing concern.
At 9.15am, FTSE Bursa Malaysia KLCI slid 1.68 points or 0.12 per cent to 1,440.46 versus Tuesday's close of 1,442.14.
The benchmark index opened 0.97 points easier at 1,441.17.
Loses led gainers in the broader market with 255 to 177 while 303 counters remained unchanged.
The index board was also seeing red as FBM Emas shed 16.33 points or 0.15 per cent to 10,622.26, FBM100 dropped 16.32 or 0.16 per cent to 10,299.04 and FBM Ace lost 26.28 or 0.52 per cent to 4,991.13.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the index added almost three points at closing bell yesterday to stay above the 1,440 mark as market participation remained muted.
"We believe in line with other regional currencies, the pressure on the ringgit versus the US dollar is still an ongoing concern.
"For today, we expect the benchmark index to hover within the 1,440-1,450 range attributed to buying support from local institutions.
"Meanwhile, crude oil prices ease due to build up in inventory as the Brent crude dipped to below the US$88 a barrel," said Thong.
On the global front, Wall Street closed firmer while traders were still debating whether the US Federal Reserve will raise interest rates or not.
Thong said many were expecting the Feds to pause with the rate hike amid the strong economic data with inflation remaining at elevated levels.
As a result, the Dow Jones Industrial Average gained 124 points while the Nasdaq added 62 points despite the US 10-year yield climbing higher to 4.926 per cent.
"Over in Hong Kong, the Hang Seng Index declined by 294 points as sentiment was spooked by China's unexpected decline in manufacturing activities last month," he added.