KUALA LUMPUR: Bursa Malaysia ended the midday session on a lower note, weighed down by continuous selling in selected heavyweight and small-cap stocks amid mixed sentiment from regional markets.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 7.26 points, or 0.44 per cent, to 1,622.53 compared with Tuesday's close of 1,629.79.
The index started the day 0.87 points lower at 1,628.92, fluctuating between 1,621.48 and 1,631.15 throughout the morning session.
On the broader market, decliners outnumbered gainers 719 to 284, with 451 counters unchanged.
Turnover was at 2.23 billion units worth RM1.47 billion.
In a note today, Malacca Securities Research said with ITMax System Bhd securing a RM11.8 million CCTV contract from the Penang City Council, trading opportunities will persist in the group.
"Penang is also ITMax's third local council customer, besides Johor and Kuala Lumpur," it noted.
Meanwhile, the firm is bullish on e-invoicing-related counters, as taxpayers with an annual turnover or revenue of more than RM25 million to RM100 million will have to subscribe to e-invoice service starting Jan 1, 2025.
With the formalisation of the Johor-Singapore Special Economic Zone (JS-SEZ), the firm is also optimistic towards the Johor-related counters.