KUALA LUMPUR: Bursa Malaysia turned lower at midday due to persistent selling in selected heavyweights.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased by 2.38 points to 1,453.20 from yesterday's close of 1,455.58.
The FBM KLCI opened 1.18 points firmer at 1,456.76 and moved between 1,452.50 and 1,457.86 throughout the morning trading session.
On the broader market, losers thumped gainers 368 to 313, while 444 counters were unchanged, 1,181 untraded and 12 others suspended.
Turnover stood at 1.78 billion units valued at RM897.69 million.
Apex Securities Research expects some nibbling to take place, mirroring from the recovery on Wall Street overnight on the back of resumption in year-end window dressing activities.
It said the lower liners, however, may consolidate with investors taking a break ahead of the extended weekend festive holiday with trading activities likely to simmer.
"Economic wise, Malaysia inflation rate alongside with the US consumer sentiment data will be in focus."We expect the technology sector to mirror the gains on Nasdaq overnight. Healthcare sector may also see improved trading interest following the resurgence of Covid-19 cases," it said in a note.
Among other heavyweights, CIMB Group Holdings Bhd lost two sen to RM5.78 and Tenaga Nasional Bhd slid three sen to RM9.97, while IHH Healthcare Bhd put on two sen to RM6.02. Public Bank Bhd and Axiata Group Bhd eased three sen each to RM4.24 and RM2.41, respectively.
Both counters pulled the composite index down by a combined 1.41 points.Of the actives, Leform Bhd, Widad Group Bhd and Sarawak Consolidated Bhd edged up one sen each to 42.5 sen, 47.5 sen and 88.5 sen, respectively.