KUALA LUMPUR: Bursa Malaysia was a sea of red mirroring Wall Street's decline as traders await November's consumer price index data later today that may influence the US Federal Reserve's (Fed) decision on interest rates next week.
At 9.40am, the FTSE Bursa Malaysia (FBM) KLCI slipped 0.51 per cent or 8.25 points to 1,600.72 versus Tuesday's close of 1,608.97.
The key index opened at 1,603.19.
The broader market saw losers led gainers 384 to 216 while 384 counters were unchanged.
On the index board, FBM100 dropped 0.37 per cent to 11,978.41, FBM Emas shed 0.34 per cent to 12,298.27 while FBM Ace was unchanged at 5,287.03.
Rakuten Trade Sdn Bhd said the FBM KLCI closed slightly lower yesterday after a superb opening as selling emerged, limiting the ongoing uptrend.
Nonetheless, it remained adamant that buyers would still prevail hence expect the benchmark index to chart further upside.
"In view of the recent conclusion of earnings season, we noticed slight upgrades of estimatesat 17 per cent for 2024 and around 10 per cent for 2025, showing that corporate Malaysia is still in good health hence expect the index to hover within the 1,605-1,615 range today," it said.