At 12.30pm, the FBM KLCI was down 5.35 points to 1,531.73. Trading volume was 1.37 billion shares valued at RM915.21mil.
The local stock exchange's performance was at odds with the regional trend with major Asian markets in positive territory as investors turned hopeful on news that the number of news Covid-19 cases had fallen for the second straight day.
Meanwhile, the ringgit was lower against a basket of major currencies, falling 0.1% against the US dollar at 4.1580, 0.1% against the pound sterling at 5.4050 and 0.2% against the Singapore dollar at 2.9878.
Glove manufacturing counters were underwater on Wednesday as investors continued to lock in gains following a surge in their share price on a better demand outlook.
FBM KLCI-listed Top Glove was among the leading decliners after shaving 25 sen to RM5.40. Rival glove maker Hartalega also lost 20 sen to RM5.91 while Kossan
fell 11 sen to RM4.61 and Supermax dropped five sen to RM1.60.Plantation counters were also on the back foot, led by KL Kepong down 14 sen to RM23, Sime Darby Plantation shedding seven sen to RM5.12 and IOI slipping five sen to RM4.45.
United Malacca Plantations featured on the biggest loser's list with a 15 sen decline to RM5.15.
Bank stocks showed mixed results. Public Bank rose 16 sen to RM17.86 while Maybank dropped seven sen to RM8.40. Hong Leong Bank was up two sen to RM15.32 and CIMB dropped two sen to RM4.94.
In the crude oil market, prices jumped 1% on hopes that the coronavirus pandemic had peaked while the US moved to cut more Venezuelan crude from the market.
WTI crude rose 58 cents to US$52.63 a barrel and Brent crude gained 61 cents to US$58.36 a barrel.
