At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 10.68 points at 1,499.03 from Wednesday's close of 1,509.71.
The index opened 4.03 points weaker at 1,505.68.
The bourse opened lower at the end of the week, reflecting a decline in shares on Wall Street and government bonds ahead of U.S. consumer price (CPI) data that annoyed investors in the market.
On the broader market, investors saw losers at 244 outpacing gainers at 66, while 182 counters were unchanged, 1,782 untraded and 22 suspended.
Total turnover at 98.3 million units worth RM77.13 million.
A note from Malacca Securities Sdn Bhd explained that the KLCI experienced a decline for 6 consecutive sessions during the weakness of regional markets due to long losses since January 2022 despite recording a strong retail sales rate in April.
It was further compounded by an increase in the unemployment rate which fell below 4%.
Moreover, investors remaining cautious ahead of the release of US CPI data and the expectation of a rate hike by the European Central Bank (ECB) were also factors to the decline in interest in the stock.
Thus, they predict investors may be eyeing opportunities in the consumer, REIT and banking sectors in the near future.
Heavyweights saw Malayan Banking Bhd down 1 sen at RM8.79, Public Bank Bhd and CIMB Group Holdings Bhd down 5 sen at RM4.52 and RM5.02, Petronas Chemicals Group Bhd down 8 sen at RM9.56 and IHH Healthcare Bhd dropped 3 sen at RM6.37.
Active stocks saw Genting Bhd fall 20 sen at RM5, Top Glove Corp Bhd was down 3 sen at RM1.19, Serba Dinamik Holdings Bhd rose 0.5 sen at 11 sen while LGMS Bhd gained 2 sen at 73.5 sen and Pertama Digital Bhd remained at 86.5 sen .
On the index board, the FBM Emas index weakened 67.18 points at 10,774.5, the FBM Emas Shariah index declined 66.58 points at 11,042.17, the FBM 70 declined 58.68 points at 13,167.51, the FBM ACE declined 26.04 points at 5,143.9 and the FBMT 100 index declined 66.9 points at 10,469 points.
In terms of sector, the Financial Services index declined 74.03 points at 16,447.68, the Plantation index declined 41.37 points at 7,624 and the Products and Services Industry index weakened 1.26 points at 192.78.
