KUALA LUMPUR, March 4 ― Bursa Malaysia retreated into the negative territory at lunch break, with the key index declining 1.19 per cent as profit-taking activities dominated the market, a dealer said.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.34 points to 1,599.20 from 1,618.54 at yesterday's close.

The index, which opened 2.54 points lower at 1,616.00, moved between 1,598.17 and 1,616.28 throughout the session.

Market breadth was negative with losers trouncing gainers 820 to 168, while 322 counters were unchanged, 930 untraded and nine others suspended.

Turnover stood at 1.95 billion units worth RM1.57 billion.

Malacca Securities Sdn Bhd said investors may be focusing on the developments and concerns arising from the geopolitical tensions between Russia and Ukraine.

It added that with crude palm oil and crude oil prices on the uptrend, traders may position themselves within the laggards in the energy and plantation sectors.

Metal-related companies may also see active trade, given the elevated aluminium and recovering steel prices due to supply disruptions, it said.

Meanwhile, key regional indices were on a downtrend due to cautious trading, following the negative cues from Wall Street overnight.

Japan's Nikkei 225 slipped 2.46 per cent to 25,922.90, Hong Kong’s Hang Seng Index went down 2.67  per cent to 21,867.45, Singapore’s Straits Times Index eased 0.51 per cent to 3,237.12 and South Korea’s Kospi fell 1.29 per cent to 2,711.58.

Back home, Bursa heavyweights Maybank slipped eight sen to RM9.04, Public Bank lost one sen to RM4.42, Petronas Chemicals stayed at RM10, Press Metal added one sen to RM7.23 and IHH Healthcare contracted two sen to RM6.55.

As for the actives, SMTrack eased half-a-sen at 19.5 sen, DNex inched down five sen to RM1.03, while China Automobile ticked up one sen to two sen.

On the index board, FBM ACE shrank 142.60 points to 5,533.99, FBM 70 reduced 217.19 points to 13,220.90, FBM Emas Index fell 154.35 points to 11,323.32, FBMT 100 Index declined 143.35 points to 11,011.39, while FBM Emas Shariah Index slumped 205.98 points to 12,035.67.

Sector-wise, the Financial Services Index erased 96.75 points to 16,410.73, the Industrial Products and Services Index dropped 1.23 points at 213.09, while the Plantation Index shed 212.14 points to 8,570.44. ― Bernama