KUALA LUMPUR: Bursa Malaysia closed in the red following a heavy sell-off on Wall Street overnight.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI was down 0.38 per cent or 6.41 points to 1,670.24 versus Tuesday's close of 1,676.65.
The broader market was negative, with losers leading gainers (806 to 307) while 445 counters were unchanged.
The index board was also a sea of red, with FBM100 losing 0.51 per cent to 12,128.39, FBM Emas losing 0.55 per cent to 12,428.76, and FBM Ace was down 1.28 per to 5,157.93.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the decline in FBM KLCI was in line with the weak performance across the region.
"The FBM KLCI has shown mixed performance with noticeable fluctuations over the past few days. The recent dip in the benchmark index presents a timely opportunity for bargain hunting, as the fundamentals of Malaysian corporates remain solid, and many are now trading at more attractive valuations.
"With the index pulling back due to external market pressures and profit-taking, investors with a long-term view may find this an ideal moment to accumulate quality shares at a discount.
"As such, we maintain our FBM KLCI target for the week between 1,670 and 1,700," he said.