KUALA LUMPUR: Investors are expected to lock in recent gains after five straight sessions of gains, especially after Wall Street's pullback overnight.
"Although the key index managed to notch higher, the increasing bouts of profit taking are setting into space with the local bourse reversing most of its intraday gains yesterday," said Apex Securities Research in a note.
Looking ahead, the research firm said investors will be monitoring US inflation data to be released tomorrow.
Back home, the focus will turn towards the Malaysian unemployment rate data that is expected to hold steady at 3.4%.
"We reckon some weakness will prevail over the technology sector, mirroring the weakness on Nasdaq overnight," said Apex.
At the opening bell, the benchmark FBM KLCI was down 1.03 point sto 1,497.8 as the index backed away from the psychological resistance of 1,500 points.
Declines were seen in PETRONAS Chemicals down five sen to RM7.05, Tenaga Nasional dropping four sen to RM10.52 and Telekom Malaysia falling four sen to RM5.70.
Nestle jumped 50 sen to RM119.50 while Hong Leong Financial Group added four sne to RM16.48 and Press Metal
gained three sen to RM4.90.
Of actives, Hong Seng was flat at 2.5 sen, TWL rose 0.5 sen to five sen and Mintec was unchanged at 23.5 sen.
