Bursa Malaysia starts lower in early trade amid cautious investor sentiment

KUALA LUMPUR: Bursa Malaysia opened in the red on Wednesday, mirroring Wall Street's performance as investors grew cautious ahead of the US Federal Reserve's interest rate decision. 

At 9:16 am, the FTSE Bursa Malaysia (FBM) KLCI was up 0.01 per cent or 0.13 points, to 1,597.46 versus Tuesday's close of 1,597.33. 

The key index opened flat today. 

The index board was also a sea of red, with FBM100 and FBM Emas losing 0.54 per cent to 11,945.99 and 12,262.03, respectively. FBM Ace dropped 1.25 per cent to 5,241.86. 

Losers led gainers 219 to 147 in the broader market while 335 counters were unchanged. 

Rakuten Trade Sdn Bhd said in a note that FBM KLCI finally relented from the continuous foreign fund selling as it closed below the 1,600 level yesterday. 

"Admittedly, it was another dismal day for regional markets, especially those within the Southeast Asia region.

"The recent weakness of the local bourse has rendered valuation to a more alluring level estimated at 14.7x currently based on 2025 numbers. For today, we expect the index to hover within the 1,595-1,605 range," it said.

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