KUALA LUMPUR: Bursa Malaysia saw a decline in the morning session due to investors taking profits.
At 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.20 points to 1,579.46 compared to its closing value of 1,582.66 on Monday.
The broader market continued to show negativity, with 537 losers outnumbering 411 gainers, while 463 counters remained unchanged.
Malacca Securities Sdn Bhd expects the technology sector to attract attention during the KL20 summit, potentially positioning Malaysia as a prominent player in chip manufacturing within the Southeast Asia (SEA) region.
"We like the Construction, Property, Utilities, Solar and Building Material segments on the back of a decent renewable energy roadmap under the National Energy Transition Roadmap (NETR) masterplan, and the revival in mega infrastructure projects may keep the economy on a high gear," it said.
In the commodity market, Brent oil was just below the US$88 mark due to reduced geopolitical tensions, while the price of crude palm oil (CPO) remained in the range of RM3,800-RM3,900.