KUALA LUMPUR: Bursa Malaysia played catch-up with the key regional markets' previous day losses early Tuesday while investors looked towards insititutions to provide the leads.

The broader market was notably weaker with decliners beating aadvancers four to one, reflecting the cautious sentiment amid the short trading week.

At 9.54am, the KLCI was down 4.4 points or 0.26% to 1,682.04. Turnover was 292.15 million shares valued at RM192.54mil. There were 101 gainers, 429 losers and 239 counters unchanged.

Asian stocks rose early on Tuesday, boosted as Wall Street rallied overnight after Federal Reserve Board Governor Lael Brainard brought relief to risk asset markets by reducing prospects of a near-term interest rate hike. 

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5%, Reuters reported.

Oil prices fell in early trade on Tuesday on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to 1% in the previous session, it reported. 

Brent crude futures were trading at US$47.98 and US West Texas Intermediate futures were down 41 cents, or 0.9%, at US$45.88 a barrel.

Kenanga Investment Bank Research said technical-wise, the KLCI had retraced from its 1,690 level after posting three consecutive days of gains last week. 

“Key momentum indicators are still suggesting that the sideways consolidation is likely to prolong further, especially showcased by the rolling over of Stochastic indicator from its overbought region,” it said.

United Plantations fell the most, down 50 sen to RM27.

Among the consumer stocks, Nestle fell 28 sen to RM79.72, Ajinomoto 16 sen to RM14.06 while Carlsberg and BAT fell 14 sen each tp RM14.66 and RM50.44.

Time dotCom was the top gainer, adding 13 sen to RM7.80 with 500 shares done.

PAOS jumped 10 sen to RM1.16 after it announced its corporate exercise. Paos proposed a bonus issue with 60.39 million new shares coupled with issuance of 90.58 million free warrants on the basis of one warrant for every two shares held, after the proposed bonus issue.

Yen Global gained nine sen to RM1.30 while also up nine sen to 87.5 sen was Mycron. Only World Group added eight sen to RM2.32.

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