KUALA LUMPUR: Bursa Malaysia was mixed in the first hour of trading, as investors sold heavyweights and bought smaller-cap stocks, continuing its bumpy start to the year.
At 9.45am, the FTSE Bursa Malaysia (FBM) KLCI was down 0.02 per cent or 0.31 points to 1,629.50 versus Friday's close of 1,629.46.
The key index opened flat at 1,629.74. The broader market saw gainers lead losers 340 to 320 while 449 counters were unchanged.
On the index board, FBM100 and FBM Emas rose 0.14 per cent and 0.15 per cent respectively, to 12,220.36 and 12,551.97 points. FBM ACE added 0.20 per cent to 5,483.25.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI ended lower last week to just below the 1,630 level amid continued profit taking activities.
"Despite the absence of catalysts, we believe some stock accumulation to emerge as we expect foreign funds may be forced to re-look at Asia as a prime destination in view of the stuttering US market. "As such, we anticipate the index to trend between the 1,630-1,640 range today," he added.