At 9am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.29 points at 1,597.68 from Friday's close of 1,601.97.
The index opened 2.59 points weak at 1,599.38.
It opened weaker in the Asian session earlier this week with the key index falling 0.26% due to profit-taking activity based on last Friday’s strong performance.
On the broader market, investors saw losers at 478 outpacing gainers at 94, while 162 counters were unchanged, 1,569 untraded and 25 suspended.
Total turnover at 216.26 million units worth RM123.98 million.
A note from Malacca Securities Sdn Bhd noted that Wall Street's weak performance may have affected local sentiment as the Nasdaq technology sector drops to 13,000.
In addition, Indonesia's ban on palm oil exports to control domestic cooking oil shortages may boost sentiment for crude palm oil futures.
Heavyweights saw Malayan Banking Bhd (Maybank) lose 3 sen at RM8.91, Public Bank Bhd declined 2 sen at RM4.70, Petronas Chemicals Group Bhd fell 6 sen at RM10.24 and Press Metal Aluminum Holdings Bhd fell 11 sen at RM6.32 while IHH Healthcare Bhd rose 4 sen to RM6.65.
Active stocks saw SMTrack Bhd fall 0.5 sen to 8 sen, Dagang NeXchange Bhd (DNeX) fell 3 sen to RM1.02, MLABS Systems Bhd and Vortex Consolidated Bhd remained at 3 sen and 18.5 sen while Jaya Tiasa Holdings Bhd rose 8 sen to RM1 .20.
On the index board, the FBMT 100 index declined 42.62 points at 11,085.37, the FBM Emas index weakened 46.02 points at 11,438.03, the FBM Emas Shariah index declined 43.05 points at 12,046.15, the FBM 70 declined 105.16 points at 13,663.43 and the FBM ACE shrank 673.01 points at 5,03.01.
In terms of sector, the Products and Services Industry index narrowed 2.24 points at 212.51, the Financial Services index contracted 68.51 points at 16,779.69 and the Plantation index accumulated 214.89 points at 8,812.76.
