KUALA LUMPUR: Bursa Malaysia tipped into the red at mid-day break as investors turned cautious over US Federal Reserve's (Fed) highly anticipated interest rate decision.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.94 points to 1,541.02 from Tuesday's close of 1,544.96.
The benchmark index, which opened 0.10 points firmer at 1,545.06, moved between 1,539.19 and 1,546.0 during the morning trading session.
Market breadth was negative with losers beating gainers 443 to 431, while 453 counters were unchanged.
Turnover amounted to 2.19 billion units worth RM1.19 billion.
Malacca Securities Research said the FBM KLCI closed lower for the session with profit taking activities seen within selected Banking heavyweights.
In the US last night, the firm noticed trading activities had slowed down ahead of the conclusion of the FOMC meeting as the market looks to the Fed's statement to understand the timing of the interest rate cut.
"Similarly, we opine that the overall market conditions on the local front will turn softer with profit taking activities emerging after recent rebound on small caps," it said in a note.
Of the heavyweights, Malayan Banking Bhd was down seven sen to RM9.58, Public Bank Bhd eased three sen to RM4.25 and CIMB Group Holdings Bhd fell nine sen to RM6.52. Meanwhile, Petronas Chemicals Group Bhd added five sen to RM6.86, and Tenaga Nasional Bhd was flat at RM11.50. Among the actives, TWL Holdings Bhd and MMAG Holdings Bhd firmed half-a-sen to 3.5 sen and 15.5 sen, respectively, while Mlabs Systems Bhd edged down half-a-sen to one sen, and Hong Seng Consolidated was flat at one sen.
