KUALA LUMPUR: Bursa Malaysia closed the day lower as investors shifted their attention towards smaller cap stocks.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.49 points to 1,614.37 compared to Friday's close of 1,617.86.
The benchmark index began 1.38 points higher at 1,619.24, hitting its intraday peak, before dipping to 1,613.01 during the mid-afternoon session.
On the broader market, gainers surpassed decliners 628 by 531, with 470 counters unchanged.
Turnover rose to RM3.30 billion from Friday's worth of RM4.05 billion.
Rakuten Trade equity research vice-president Thong Pak Leng expects the market undertone to remain stable, supported by continuous inflow of foreign capital and improving local economy.
"Nonetheless, investors are advised to remain vigilant amid growing global volatility and uncertainty.
"We anticipate the FBM KLCI to trend within the range of 1,610-1,630 for the week," he told Business Times.
Meanwhile, Thong said trading activity in the region was subdued with China, Hong Kong, and Taiwan markets closed for holidays.
He added that the overall sentiment was mixed as traders significantly reduced bets on Federal Reserve rate cuts this year due to a tight US labour market.
"In the meantime, the Eurozone was weighed down by broader political concerns following a snap election call in France," he said.