KUALA LUMPUR: The FBM KLCI ended the morning session mildly lower as investors awaited new catalysts amid the ongoing uncertainty over inflation and higher interest rates.
At 12.30pm, the country's index of 30 blue-chip counters was down 0.7 points to 1,473.29.
The overall market breadth remained negative with 421 decliners compared with 349 gainers.
Trading volume was 1.81 billion shares valued at RM803.22mil.
According to TA Securities Research, stocks should be consolidating following the sharp drop in the previous session, with more investors returning from the year-end holidays to cushion downside.
'On index chart supports, expect 1,460 and 1,450 to cushion downside, with better supports from 1,420 and 1,400.
"Immediate resistance remains at the 1,500 psychological level, with 1,512, and the August high near 1,528 as stronger resistance levels, followed by 1,550 and 1,570 as tougher upside hurdles," it said in a note.
Most major Asian markets moved higher ahead of the release of the minutes of the US Federal Reserve's recent meeting, which would shed more light on its interest rate policy moving forward.
While Japan's Nikkei dropped 1.3% to 25,762 as it reopened following an extended holiday, South Korea's Kospi was up 1.4% to 2,249.
China's composite index gained 0.3% to 3,126 while Hong Kong's Hang Seng rose 2.3% to 20,608. Australia's ASX200 climbed 1.5% to 7,052.
On Bursa Malaysia, there was some selling in oil and gas and plantations counters including PETRONAS Chemicals down 20 sen to RM8.40, PETRONAS Gas dropping eight sen to RM16.72, Kuala Lumpur Kepong losing 24 sen to RM21.86 and Sime Darby Plantation
falling seven sen to RM4.43.
IHH dropped three sen to RM5.98, MISC dipped three sen to RM7.24 and Axiata shed three sen to RM2.95.
Genting was seen jumping 12 sen to RM4.60 while Genting Malaysia rose three sen to RM4.60.
Top actives on the markets were L&P Gobal up 0.5 sen to 55 sen, Advance Synergy gaining 0.5 sen to 17.5 sen and Cypark rising 2.5 sen to 54.5 sen.
