The rebound in the domestic market proved short-lived after equity price gains faded amid continued selling by foreign funds.
The FBM KLCI had rebounded nearly 15 points to 1,576.57 in morning trade, seen as a low on high profit-taking activity.
Entering the lunch break, the benchmark index fell 0.44 points to 1,561.68 heading for its fourth consecutive day of decline.
In the broader market, losers continued to outpace gainers by 504 to 382.
Total trading volume was 2.27 billion shares changing hands for RM1.52 billion.
Rakuten Trade in a statement said offshore investors were offloading Malaysian equities ahead of President-elect Donald Trump’s inauguration on January 20.
However, Bursa Malaysia lagged among Asian markets tracking the release of weaker-than-expected US inflation data and the subsequent rally in Wall Street stocks.
Shares that caused declines on the FBM KLCI included Gamuda down 23 sen to RM4.22, Tenaga Nasional down 14 sen to RM13.36, Sunway down nine sen to RM4.10.
Meanwhile, Sunway subsidiary Sunway Construction was seen plunging 40 sen to RM3.50.
