KUALA LUMPUR: Bursa Malaysia closed lower on Wednesday, snapping a three-day winning streak, in line with subdued regional stock markets.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 10.98 points, or 0.70 per cent, to 1,537.01 from Tuesday's close of 1,547.99.

The benchmark index opened 0.70 of-a-point easier at 1,547.29 and moved between 1,537.01 and 1,548.42 throughout the trading session.

On the broader market, decliners beat gainers 593 to 480, with 487 counters unchanged, 734 untraded, and 13 others suspended.

Turnover widened to 4.26 billion units worth RM2.87 billion compared with 4.15 billion units valued at RM2.81 billion on Tuesday.

Malacca Securities Research said the FBM KLCI extended its rebound for the third trading day, experiencing a breakout above 1,540.

However, the firm said Wall Street closed in the negative territory as US 10-year yield rose to a four month high and the traders could be pricing in a delay in cutting interest rates.

"Despite the US stock markets ending weaker, we believe the sentiment on the local front may stay positive with the recovery tone from China's Purchasing Managers' Index (PMI) coming in at 50.8 (vs forecast of 50.1)," it said in a note.

Among the heavyweights, MR D.I.Y Group (M) Bhd eased 3.0 sen to RM1.48, Public Bank Bhd dropped 7.0 sen to RM4.16, CIMB Group Holdings Bhd was down by 10 sen to RM6.56, Axiata Group Bhd declined 4.0 sen to RM2.63 and Telekom Malaysia Bhd slid 8.0 sen to RM6.02.

On the actives, SNS Network Technology Bhd was 4.0 sen firmer at 37 sen, Zen Tech International Bhd rose half-a-sen to 2.0 sen, Velesto Energy Bhd reduced half-a-sen to 29.5 sen and Bumi Armada Bhd added 1.5 sen to 59.5 sen.