KUALA LUMPUR: There was a some profit-taking on Bursa Malaysia, matching the mood on Wall Street ahead of a slew of big US tech earnings and an interest rate announcement from the Federal Reserve.
The FBM KLCI was down 1.43 points to 1,523.82 in the first five minutes of trading, extending the previous day's fall as a cautious mood overtook regional markets amid ongoing tariff discussions.
According to TA Securities' morning commentary, the investor sentiment is expected to remain cautious in the lead-up to a key interest rate decision and the release of crucial economic data this week.
Rakuten Trade, meanwhile, said it believed the previous day's sell-down was owing to foreign funds taking the opportunity to lock in profits after the recent run-up.
However, it said the selling was excessive, and expected an immediate rebound. A failure to rebound, it said, could lead to another consolidation phase.
"For today, we expect the index to trend between the 1,520-1,530 range," it added.
In early price movements, Nestle shed RM1 to RM86.80 as investors continued to take nibble at profit after the recent strong rally.
Heineken fell 20 sen to RM23.70, Sunway shed six sen to RM4.82 and Pentamaster dropped six sen to RM3.48.
Of actives, NexG was flat at 53 sen, Pharmaniaga
slipped one sen ot 17 sen and TWL was unchanged at 2.5 sen.
