KUALA LUMPUR: Bursa Malaysia continued its downtrend to close lower at midday, due to profit-taking activities.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gave up 5.0 points to 1,533.42 from Tuesday's close of 1,538.42.

The benchmark index, which opened 1.91 points lower at 1,536.51, moved between 1,528.52 and 1,536.58 throughout the session. 

The market breadth was negative with decliners outpacing advancers 546 to 350 while 448 counters were unchanged, 994 untraded and 74 others suspended.

Turnover amounted to 2.12 billion units worth RM1.49 billion.  

Hong Leong Investment Bank Bhd (HLIB) said in the absence of local fresh catalysts, it anticipates KLCI to trend sideways as investors await US inflation data and Powell's speech for clearer insight of Fed's future policy. 

"While the benchmark may continue to consolidate further, rotational plays on small and midcaps should sustain broader market breadth.  FBM KLCI is expected to trade range bound within 1,555 and 1,529," it said in a note. 

Among the heavyweights, Petronas Chemicals fell 3 sen to RM6.80, Malayan Banking Bhd rose one sen to RM9.70, while Tenaga Nasional gained six sen to RM11.26 and CIMB Group Holdings Bhd added five sen to RM6.55.

Among the actives, market debutant Zantat Holdings Bhd soared 12.0 sen to 37 sen, Ekovest Bhd rose two sen to 50 sen, Computer Forms (Malaysia) Bhd was flat at 15 sen and MMAG Holdings Bhd gained five sen to 18sen.