KUALA LUMPUR: Bursa Malaysia traded mixed at midday, with buying interest in heavyweights keeping the key index almost flat while widespread selling in small-cap stocks pushed the broader market into the red.
At 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was almlost flat at 1,606.71, versus Monday's close of 1,606.66.
The benchmark index opened 0.82 point at 1,605.84, fluctuated between 1,598.30 and 1,608.17 during the morning session.
In the broader market, losers trumped gainers 623 to 276, with 440 counters unchanged, 1,107 untraded and nine suspended.
Turnover amounted to 2.25 billion shares worth RM1.29 billion.
Hong Leong Investment Bank Research said the FBM KLCI could face some choppy times ahead, aligning with a seasonally weak month of August as investors weigh the upcoming major US and China economic data coupled with escalating Middle East conflicts.
"Locally, impending release of Malaysia's gross domestic product (GDP) for the second quarter of this year and expectations of a resilient August (financial) results season coupled with strong local funds support may cushion the external shocks," the research firm said.
HLIB said the index could revert to a downtrend, with major support levels seen at 1,565, 1,587 and 1,600 while resistance between 1,612 to 1,638 range.