KUALA LUMPUR: There is further profit-taking in store on the domestic market following the previous day's pullback, says Apex Securities Research.
The research firm said the lower liners are bracing for further downside as selected small cap stocks are once again demonstrating signs of volatility.
"Hence, we advocate investors/traders to exercise cautiousness to avoid excessive exposure towards particular small-cap stocks," it said in a note.
Meanwhile, Apex anticipates the US Federal Reserve to keep the interest rate unchanged at the conclusion of the Federal Open Market Committee meeting tonight.
Malacca Securities Research, separately, said the liquidation of China Evergrande is expected to spur on profit-taking on Bursa Malaysia.
It said in a note the overall market is expected to consolidate with the FBM Small Cap turning lower.
At the start of trading, the benchmark FBM KLCI was down 0.15 points to 1,512.60.
Decliners included Hong Leong Bank dropping 18 sen to RM19.02, YTL Power shedding seven sen to RM4.13 and IHH falling four sen to RM6.02.
Top actives included Sapura Energy
down 0.5 sen to 4.5 sen, TWL unchanged at four sen and PUC up one sen to 4.5 sen.
