KUALA LUMPUR: Bursa Malaysia remained in the red at midday on bargain hunting activities of selected key index members.
The benchmark FBM KLCI declined 1.13 points to 1,452.26 at midday break.
During the early session, the index trended between a low of 1,445.41 and a high of 1,452.23.
The broader market saw losers lead gainers 418 to 322, with 409 counters remaining unchanged.
Malacca Securities believes that the market's focus is diverted towards the upcoming data release of the US' Consumer Price Index and Producer Price Index due today and tomorrow respectively.
"Should any pick up in the inflation numbers, that may provide pressure to the stock markets with the anticipation of a more hawkish tone from the US Federal Reserve," it said.
On the commodities front, the Brent crude oil formed a pennant breakout above the US$90 per barrel level, while crude palm oil prices sank below the RM3,700 per tonne level.
