KUALA LUMPUR: Market sentiment remained weak on Wednesday as investors remained anxious over domestic economic growth, the Melaka state elections and global inflation data scheduled for release later this week.

       Malaysia's 3Q gross domestic growth result is due out this Friday, which would reveal the impact of the lockdown measures implemented in that quarter to the economy.

       Meanwhile, US investors were also showed to be tentherhooks ahead of the country's consumer price index, which would provide more indication as to the country's rate of inflation

       Sentiment on Bursa Malaysia has been shaky since the announcement of the one-off special tax on high-income companies in Budget 2022, which triggered heavy selling on the FBM KLCI.

       However, Malacca Securities Research maintains that bargain-hunting could set in following the end of the Melaka state elections later this month.

       "We believe the bashed-down counters could be a sweet spot for bargain-hunting activities especially counters with solid earnings prospects," it said in a note.

       At 9.10am, the benchmark index was down 1.01 points to 1,523.02. Most blue-chip counters edged lower including Petronas Chemicals, down five sen to RM8.2.

       Banks remained wobbly with CIMB slipping three sen to RM4.99, Public Bank losing one sen to RM4.02 and Hong Leong Bank dropping 10 sen to RM18.

       Plantations were also on the slide with IOI falling two sen to RM3.79 and Sime Darby Plantation dropping three sen to RM4.

       Top actives on the broader market included Eduspec, which was unchanged at 1.5 sen, KNM down 0.5 sen to 20 sen and Bintai Kinden up three sen to 39 sen.