KUALA LUMPUR, May 30 — Bursa Malaysia closed lower today, prompted by continuous selling pressure in most heavyweight counters and the weakening ringgit, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 7.32 points to 1,629.87 after opening 4.51 points weaker at 1,632.68.

It hovered between 1,623.91 and 1,633.36 throughout the day.

A dealer said most Asian markets slipped on Monday on growing concern over the possibility of a US interest rate increase soon.

US Federal Reserve Chair Janet Yellen on Friday suggested that the central bank should raise interest rates “in the coming months” if economy picks up and the labour market continues to improve.

Meanwhile, the European Central Bank will meet on Thursday and is expected to keep interest rates on hold and reaffirm its focus on implementing its stimulus package announced in March.

The FBM Emas Index fell 46.79 points to 11,401.07, the FBMT100 Index slipped 44.95 points to 11,096.76 and the FBM Emas Shariah Index was 44.17 points lower at 11,916.20.

The FBM 70 gave up 34.79 points to 12,888.34 and the FBM Ace dipped 41.88 points to 5,522.38.

The Finance Index shed 43.29 points to 14,207.23, the Plantation Index decreased 41.59 points to 7,450.97 and the Industrial Index lost 23.70 points to 3,087.58.

Market breadth was negative as losers thumped gainers 546 to 300 with 313 counters unchanged, 587 untraded and 58 suspended.

Volume declined to 1.56 billion units worth RM1.65 billion from 1.84 billion units worth RM1.93 billion on Friday.

Among heavyweights, Maybank declined four sen to RM8.23, TNB and Public bank fell two sen each to RM14 and RM19.12, respectively, while IHH Healthcare shed one sen to RM6.52.

Among actives, AirAsia added one sen to RM2.41, Nexgram and AE Multi Holdings earned half-a-sen each to six sen and 14 sen, respectively, while Mexter Technology advanced six sen to 18.5 sen.

Main Market turnover fell to 856.48 million shares worth RM1.53 billion from Friday’s 1.16 billion shares worth RM1.81 billion.

ACE Market volume increased to 524.24 million shares valued at RM88.96 million from 482.61 million shares valued at RM85.95 million.

Warrants decreased to 161.56 million units worth RM24.71 million from 194.92 million units worth RM37.01 million previously.

Consumer products accounted for 51.59 million shares traded on the Main Market, industrial products (208.81 million), construction (52.78 million), trade and services (343.50 million), technology (12.58 million), infrastructure (11.60 million), SPAC (21.34 million), finance (54.59 million), hotels (1.40 million), properties (79.17 million), plantations (14.78 million), mining (nil), REITs (4.32 million) and closed/fund (18,100). — Bernama