At 9.23am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 3.94 points at 1,520.09 from Tuesday's close of 1,524.03 but retreated after that as profit -taking activity on selected heavyweights outpaced early gains.
The index opened 2 points higher at 1,526.03.
The broader market saw losses outpacing gains with 267 versus 201 while 302 counters were unchanged, 1,514 untraded and 17 suspended.
Total turnover was 488.59 million units worth RM247.2 million.
A note issued by Malacca Securities Sdn Bhd said traders may start focusing on 5G network -related counters following the expected deployment of the network next year.
He added that the KLCI slipped due to selling pressure amid mixed sales performance in regional markets despite good Industrial Production Index (IPI) data in September 2021. In addition, oil and gas counters are expected to continue to gain attention in line with rising prices. crude oil.
Heavyweights saw Malayan Banking Bhd (Maybank) and IHH Healthcare Bhd unchanged at RM7.99 and RM6.45, Public Bank Bhd declined 1 sen to RM4.02, Petronas Chemicals Group Bhd (PetChem) declined 4 sen to RM8.25 while Tenaga Nasional Bhd (TNB) fell 2 sen to RM9.59.
Active stocks saw Eduspec Holdings Bhd remain at 1.5 sen while KNM Group Bhd declined 0.5 sen at 20 sen while Tanco Holdings Bhd rose 0.5 sen at 27 sen and was followed by Bintai Kinden Corp Bhd gaining 3.5 sen at 39.5 sen.
On the index board, the FBM Emas index declined 18.51 points to 11,270.86, the FBMT 100 index declined 21.07 points to 10,898.51, the FBM Emas Shariah index declined 16.53 points to 12,281.51 while the FBM ACE rose 12.76 points to 6,929.33 and the FBM 70 declined 0.89 points to 14,951.04.
The Industrial Products and Services index declined 0.44 points at 200.78, the plantation index declined 18.25 points at 6,633.61 and the financial services index declined 36.98 points at 15,093.12.
