KUALA LUMPUR: Bursa Malaysia concluded the morning session with a decline amid subdued market activity preceding the Chinese New Year extended weekend.
The main index neared the psychological threshold of 1,500.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.64 points to 1,511.34 from Tuesday's close of 1,512.98.
The benchmark index, starting slightly lower at 1,512.51, fluctuated between 1,510.20 and 1,514.05 throughout the session.
On the broader market, decliners outnumbered gainers 509 to 286, while 457 counters were unchanged.
In a note today, Hong Leong Investment Bank Bhd (HLIB Research) said Bursa Malaysia may continue its tight range-bound consolidation.
The investment bank mentioned that the index's resistance will be between 1,528-1,548, and support will be between 1,486-1,500, amid more subdued trading activities ahead of the Chinese New Year celebrations.
"Moreover, sentiment is likely to remain cautious, in the wake of the lingering concerns of the Fed's higher-for-longer interest rates until inflation is moving down to two per cent in a sustainable way.
"Additionally, there's concern about the sustainability of China stock markets rebounding yesterday as Beijing intensifies efforts to stem the market rout," it noted.