KUALA LUMPUR: Bursa Malaysia closed in the red at midday as the tech slump in the US markets spook investsors.
At 12:30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 4.44 points to 1,616.70 from Wednesday's close of 1,621.14.
The index opened 4.06 points lower at 1,617.08 and fluctuated between 1,610.58 and 1,618.00 during the morning session.
On broader market, losers led gainers 859 to 224 while 445 counters traded unchanged, 960 untraded, and 17 others suspended.
CGS International Securities Malaysia said the current consolidation may continue for a couple of days longer with the benchmark trading below the trend line drawn from the 1,608 low.
"Despite the current short-term consolidation, the longer-term trend remains up. The next support is seen at 1,603 to 1,614, which includes the 50-day Exponential Moving Average EMA (1,605). 1,632 to 1,638 is the immediate resistance," it added.