At 9.30am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 10.28 points at 1,587.67 from Monday's close of 1,597.95.
The index opened 0.02 points weaker at 1,597.93.
It opened lower due to profit-taking activity against selected weights following previous gains.
On the broader market, investors saw losers outpacing gainers by 631 to 381, while 568 counters were unchanged, 730 untraded and 69 suspended.
Total turnover at 699.78 million units worth RM259.54 million.
Malacca Securities Sdn Bhd notes that the key index is likely to see modest consolidation in the near term, with investors focusing on the banking and consumer sectors.
He added that crude oil prices declined amid rising concerns over weak fuel demand in China following the spread of the Covid-19 infection which led to movement control restrictions.
As for crude palm oil, the price remained at RM6,000 due to ongoing tensions in Ukraine.
Heavyweights saw Malayan Banking Bhd (Maybank) rise 2 sen at RM8.92, Petronas Chemicals Group Bhd added 10 sen at RM9.70, MISC Bhd collected 5 sen at RM7.32, Public Bank Bhd fell 1 sen at RM4.65 and IHH Healthcare Bhd fell 17 sen to RM6.35.
Active stocks saw CSH Alliance Bhd reach 1.5 sen at 15.5 sen, Sapura Energy Bhd rose 1 sen at 4 sen, SMTrack Bhd and BCM Alliance Bhd remained at 8 sen and 3 sen while Bintai Kinden Corp Bhd fell 1.5 sen at 14 sen.
On the index board, the FBM 70 decreased 21.92 points at 13,695.22, the FBM Emas index declined 57.93 points at 11,350.36, the FBM Emas Shariah index lost 36.39 points at 11,929.27 and the FBMT 100 index declined 58.90 points at 11,038.00 while the FBM ACE increased 43.98 points at 5,610.
In terms of sector, the Products and Services Industry index erased 0.96 points at 203.88, the Plantation index decreased 66.95 points at 7,950.22 and the Malay Financial Services index 77.08 points at 16,691.50.
