KUALA LUMPUR, Feb 11 — Bursa Malaysia retreated from its gains yesterday to open lower on Friday due to profit-taking activities, as investors were seen taking cue from the overnight decline on Wall Street, a dealer said.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 4.20 points to 1,565.90 from 1,570.10 at yesterday's close, after opening 5.80 points lower at 1,564.30.

Market breadth was negative with losers leading gainers 325 to 122, while 233 counters were unchanged, 1,538 untraded and 36 others suspended.

Turnover stood at 354.50 million units worth RM167.08 million.

Malacca Securities Sdn Bhd said profit-taking activities may take shape amid mounting concerns over the pace of interest rate hikes in the US in 2022 and renewed volatility on Wall Street overnight.

On the home front, investors remain cautious as now the attention has shifted towards the release of the fourth quarter (Q4) of 2021 gross domestic product (GDP) data later today in order to assess the pace of economic recovery.

"Recovery-theme stocks may also continue to be boosted ahead of the release of Q4 GDP data," it said in a note.

Bursa heavyweights Maybank fell three sen to RM8.52, Public Bank lost two sen to RM4.33, IHH Healthcare shed five sen to RM6.50, while Petronas Chemicals rose two sen to RM9.13.

As for the actives, Vortex Consolidated and Dagang NeXchange added one sen each to nine sen and RM1.08, respectively, KNM increased 1.5 sen to 17 sen, while Hibiscus Petroleum dropped two sen to RM1.03.

On the index board, FBM ACE weakened 68.71 points to 6,264.62, FBM 70 shed 69.54 points to 13,709.15, FBM Emas Index gave up 35.15 points to 11,232.46, FBMT 100 Index declined 35.08 points to 10,917.51, and FBM Emas Shariah Index erased 29.73 points to 11,930.09.

Sector-wise, the Financial Services Index contracted 61.74 points to 16,220.67, the Industrial Products and Services Index was 0.06 of-a-point lower at 209.81, and the Plantation Index eased 5.72 points to 6,882.79. — Bernama