At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 12.47 points at 1,557.63 from Tuesday's close of 1,570.10.
The index opened 6.70 points lower at 1,563.40.
The bourse was seen failing to maintain gains late in yesterday’s session when it opened lower as a result of profit-taking activity after taking volatile trading signals on Wall Street.
On the broader market, investors saw losers at 201 outnumber gainers at 171, while 238 counters were unchanged, 1,633 untraded and 16 suspended.
Total turnover at 250.57 million units worth RM162.12 million.
Rakuten Trade Sdn Bhd notes that equities around the world fell on inflation concerns and the global economic slowdown compounded also by the food crisis.
He added that the local bourse saw a sharp surge in foreign buying on the KLCI yesterday but today there may be profit-taking activity that will see the index in the range of 1,560-1575.
Heavyweights saw Malayan Banking Bhd (Maybank) and Petronas Chemicals Group Bhd lose 10 sen at RM9.0 and RM10.16, Public Bank Bhd fell 8 sen at RM4.65, IHH Healthcare Bhd declined 9 sen at RM6.61 and CIMB Group Holdings Bhd was down 2 sen at 5.13.
Active stocks saw Sapura Energy Bhd decline 1 sen at 7.5 sen while Serba Dinamik Holdings Bhd added 2 sen at 12 sen, WZ Satu Bhd gained 1 sen at 22 sen and Focus Dynamics Group Bhd remained at 3 sen.
On the index board, the FBM ACE declined 0.86 points at 5,184.78, the FBM Emas Shariah index declined 60.80 points at 11,448.83, the FBM Emas index declined 68.71 points at 11,083.19, the FBMT 100 index declined 71.59 points at 10,786.92 and the FBM 70 weakened 27.560 points at 13,211.92.
In terms of sector, the Products and Services Industry index weakened 1.86 points at 201.35, the Plantation index declined 31.25 points at 7,932.73 and the Financial Services index declined 166.80 points at 16,743.89.
