Bursa Malaysia failed to contain Wall Street's negative performance concerns overnight to open weak in the middle of the week.
According to Rakuten Trade Sdn Bhd, the local market reflects volatile movements and this affects the Bursa even though there may be bargain-hunting on banking stocks.
Based on that factor, the firm predicts the movement range of Bursa Malaysia hovering at 1,405-1,420 on Wednesday.
For information, the FTSE KLCI index (FBM KLCI) was down 4.13 points at 1,406.74 from Tuesday's close of 1,410.87 with a weak opening of 3.55 points at 1,407.38.
In the broader market, losses at 368 outpaced gains at 169, while 270 counters were unchanged, 1,591 untraded and 38 suspended.
Total revenue at 498.83 million units worth RM317.57 million.
Heavyweight stocks saw Public Bank Bhd add 2 sen to RM4.23, Petronas Chemicals Group Bhd gain 1 sen to RM8.36 while IHH Healthcare Bhd remained at RM5.91.
Maybank and CIMB Group Holdings Bhd lost 1 sen at RM8.56 and RM5.11 respectively while Tenaga Nasional Bhd (TNB) fell 3 sen at RM8.69.
Active stocks showed PT Resources Holdings Bhd up 3.5 sen at 40.5 sen, Velesto Energy Bhd remained at 11.5 sen, Cnergenz Bhd fell 4 sen at RM1.08 and LGMS Bhd dropped 1 sen at RM1.23.
On the index board, FBM Emas was down 30.3 points at 10,049.64, FBM 70 was down 34.83 points at 12,212.48, FBMT 100 was down 28.51 points at 9,795, FBM Emas Shariah was down 25.24 points at 10,151.32 and FBM ACE was down 33.06 points at 4,675.32.
In terms of sectors, the Energy index fell 7.02 points to 680.13, the Plantation index fell 36.55 points to 6,543.53, the Financial Services index lost 53.24 points to 15,901.32 and the Products and Services index fell 0.5 points to 171,19.
Meanwhile, the ringgit is still depreciating at 4.6140/4.6155 against the dollar from yesterday's closing of 4.6100/4.6120 when global inflation peaked at the highest rate in 40 years.
