KUALA LUMPUR: Bursa Malaysia retreated slightly in the early session as fears over rising inflation sapped investors' risk appetite for equities.
Blue chips failed to extend the previous day's rebound as crude oil futures rose above US$97 a barrel amid escalating hostilities beteen the US and Iran.
The FBM KLCI moved within a tight four-point range of 1,710.44 to 1,714.5 before settling 2.71 points lower at 1,712.08 at midday.
Among the big decliners, Sunway fell 11 sen to RM4.85, MISC dropped seven sen to RM7.70, IHH slid seven sne to RM7.83 and PETRONAS Gas lost 24 sen to RM17.46.
The slide on Bursa Malaysia was broad-based with 539 declining issues compared with 425 advancing.
By sector, financial services slipped 0.17%, property stocks dropped 0.45%, utilities fell 0.4% and energy shed 0.21%.
Gainers, meanwhile, were technology, up 1.09%, plantations adding 0.36%, telcos gaining 0.3% and construction climbing 0.57%.
In Asian markets, stocks prices rebounded from morning lows. Japan's Nikkei rose 0.21% to 66,542 while South Korea's Kospi jumped 2.38% to 7,162.
China's Shanghai Composite index gained 0.36% to 3,946, the CSI 300 was flat at 4,577 and Hong Kong's Hang Seng was down 0.27% to 25,345.
