KUALA LUMPUR: Bursa Malaysia saw a slight dip during the morning trading session, attributed to profit-taking activities in blue chip stocks after a recent rally.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.35 points or 0.02 per cent to 1,605.33 compared to Tuesday's close of 1,605.68.
The benchmark index, which initially opened 1.28 points higher at 1,606.96, fluctuated within the range of 1,603.29 and 1,610.25 throughout the session.
On the broader market, decliners led gainers 531 to 464, while 473 counters were unchanged.
In a note today, Malacca Securities Research said the FBM KLCI maintained its upward trend, rising for 12 days over the past 14 trading days, as buying support was seen within the banking and utilities heavyweights.
The firm said going forward, the traders will be focusing on the upcoming unemployment claims later tonight and the consumer sentiment data will be released on Friday.
"We believe the overall uptrend is intact but given it has been rising significantly higher over the past two weeks, it may attract profit taking activities.
"Nevertheless, we still like the technology sector as more investments will be seen from big multinational corporations (MNCs) and should provide healthy sentiment towards the local markets.
"Also, the data centre investments will boost the demand for the power industry and the National Energy Transition Roadmap (NETR) and New Industrial Master Plan (NIMP) masterplans will translate to trading opportunities within the construction, properties and building material sectors," it said.