This was due to caution ahead of a slew of earnings releases from index heavyweights and retreating crude oil prices, according to a report in the Nikkei Asian Review.

The benchmark FTSE Bursa Malaysia KLCI fell 0.47 per cent to 1,683.07 points, its lowest level since August 11.

The ringgit fell 0.1 per cent to RM4.0250 per US dollar.

On the KLCI, 16 of the 30 constituents ended lower Tuesday and 7 closed unchanged, while overall declining issues outnumbered advancing ones 579 to 863.

Foreign investors bought RM53.5 million worth of Malaysian equities on Monday, according to Kenanga Research.

CIMB Group Holdings, Malayan Banking, Axiata Group, IHH Healthcare and Genting are scheduled to report their quarterly earnings on Thursday.
CIMB and Axiata declined 0.2 per cent to RM4.69 and 2.1 per cent to RM5.66 respectively. The banking major and the mobile operator have been oscillating between daily gains and losses in recent sessions in the lead up to the earnings, said the Nikkei report.

Crude prices fell by over 3 per cent Monday, its first decline in eight sessions, with traders attributing the slump to profit taking, rising US oil rig count and concerns over higher supplies from Iraq and Nigeria.

Brent crude, which gained over 15 per cent through the past two weeks, extended Monday’s slump and was down 0.7 per cent to USD48.78 on Tuesday, while the US benchmark crude fell 0.2 per cent to USD46.96.

Crude prices had rallied this month from their near four-month lows, supported by expectations that major producers will agree on output limit to keep crude price steady when they meet informally in Algiers next week.