KUALA LUMPUR: There was selling pressure on the domestic market on Friday as Corporate Malaysia entered its final day of the first-quarter reporting season.

       At 9.05am, the FBM KLCI was down 2.39 points to 1,540.63. The overall market recorded 170 decliners compared with 148 gainers.

       Malacca Securities Research however expects investor sentiment to pick up given the improving situation in China, which has announced an easing of restrictions on business activity.

       "We expect the easing of restrictions in China will help the market sentiment overall.

       "Hence, buying support should emerge within the technology and recovery themed sectors.

       "Nevertheless, upside on the broader market may be kept as traders be focusing on the inflationary pressure that may dampen the corporates’ margins," said the research firm.

       On the blue-chip index, there was negative sentiment in the financial services sector following the recent announcements, which showed weaker earnings among banks.

       CIMB remains the last of the heavyweight banks to file its financial performance, scheduled for later today.

       Maybank was down two sen to RM8.96, CIMB fell four sen to RM5.01, Hong Leong Bank dropped 22 sen to RM20.90 and Public Bank was unchanged at RM4.50.

       Meanwhile, other counters that released their earnings results yesterday included Tenaga Nasional down six sen to RM9.19 and Press Metal falling 10 sen to RM5.40.

       Top active stocks on Bursa were DNeX unchanged at 99 sen, Green Packet flat at eight sen and Serba Dinamik down one sen to 10 sen.