KUALA LUMPUR: Bursa Malaysia opened lower on Wednesday tracking Wall Street's subdued performance.
At 9.15am, FTSE Bursa Malaysia KLCI slipped 0.29 per cent or 4.33 points to 1,494.50 versus Tuesday's close of 1,498.83.
The key index opened 0.07 points lower at 1,497.80.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said FBM KLCI finally breached the 1,500 mark yesterday, albeit briefly, as profit taking activities surfaces during the afternoon session curbing the index uptrend.
Despite surpassing the 1,500 level, Thong added there are still legs for the FBM KLCI amid the intermittent consolidation.
"We reckon the index to trend within the 1,495-1,505 range today. "Construction and energy counters may attract some interests after some selling yesterday," said Thong.
On the global front, Wall Street remained weak but all three major indices managed to close off their respective lows.
Thong noted traders stayed cautious as many are waiting for key inflation data over the next two days.
As such, the Dow Jones Industrial Average declined 158 points while the Nasdaq added 14 points while the US 10-year yield dipped slightly lower at 4.015 per cent.
Over in Hong Kong, the Hang Seng Index resumed with its decline to close below the 16,200 level mainly from sell-down on giant tech companies namely Alibaba, JD.com, Tencent and Meituan.
