KUALA LUMPUR: Bursa Malaysia saw a slight dip at midday, with the market being weighed down by continual selling across various sectors due to a lack of new catalysts.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.05 per cent or 0.82 of-a-point to 1,447.20 from Tuesday's closing of 1,448.02.
The key index started the day 0.61 points higher at 1,448.63, fluctuating within the range of 1,446.75 and 1,450.42 during the morning session.
On the broader market, decliners outnumbered gainers 498 to 322, while 406 counters were unchanged.
Turnover stood at 1.79 billion units valued at RM1.07 billion.
Malacca Securities Research expects some buying interest to spill over to stocks on the local front, following the surge on Wall Street.
In its daily market review, the firm said Wall Street continued to charge higher despite the mixed statements from several US Federal Reserve's officials, with the help of consumer confidence index.
It added that investors will continue to monitor the upcoming core Personal Consumption Expenditure (PCE) and Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) data later this week.
"Traders may focus on the technology sector with the strong rebound on Wall Street.
"On the release of financial results, we expect the consumer and poultry sectors could rally another round on the back of growing earnings from Leong Hup International Bhd, Farm Fresh Bhd and LTKM Bhd.
"Besides, we still favour the building material, utilities, property and construction sectors in this earnings season," it noted.