Bursa Malaysia continued its downward momentum this afternoon (Wednesday) following continued selling of certain heavyweights led by the utility sector.
The market was also affected by the dismal performance of regional markets.
At 12.30pm, the FBM KLCI lost 1,550.81 points from 1,558.80 at the close of Tuesday yesterday.
The benchmark index opened 2.50 points weaker at 1,556.30 and now moves between 1,549.54 to 1,556.69 in this morning's session.
The broad market sentiment was negative with losers outnumbering gainers at 678 to 297. Meanwhile, 387 counters were unchanged, 947 were not traded and 77 others were suspended.
The total turnover was 2.68 billion units worth RM1.53 billion.
According to ActivTrades Investor, Anderson Alves said the Asian market experienced somewhat mixed movements today as investors await the final catalyst.
Attention is now mainly focused on the real estate sector and official financial updates from China following their actions to stabilize the housing market.
Furthermore, the People's Bank of China held a meeting in February and emphasized the strategic use of financial instruments although the details were not disclosed.
Meanwhile, Malacca Securities said investors will focus on Core PCE, jobless claims and US Manufacturing Purchasing Managers' Index data. This will determine the tone of the US central bank going forward.
Among the heavyweights, Maxis Bhd lost three sen to RM3.80 per share and Public Bank Bhd fell one sen to RM4.46, while MISC Bhd rose eight sen to RM7.58 and Nestlé (Malaysia) Bhd rose RM1.30 to RM122. .80.
As for active shares, Velesto Energy Bhd rose two sen to 28.5 sen, Fitters Diversified Bhd rose one sen to 5.5 sen, Minetech Resources Bhd rose half a sen to 17 sen, DC Healthcare Holdings Bhd fell half a sen to 24.5 sen and Hong Seng Consolidated Bhd did not changed at two cents.
On the index board, the FBM Emas Index fell 49.29 points to 11,505.34, the FBMT 100 Index fell 45.26 points to 11,164.33, the FBM Emas Shariah Index decreased 54.47 points to 11,526.62, the FBM 70 Index fell 12.01 points to 15,498.79. The FBM ACE index dropped 30.95 points to 4,774.00.
In terms of sectors, the Financial Services Index rose 0.22 points to 17,342.37, and the Energy Index rose 11.27 points to 942.75, but the Plantation Index fell 14.28 points to 7,168.78, and the Industrial Products and Services Index fell 0.94 points to 176.85.
