KUALA LUMPUR, Dec 14 — Bursa Malaysia erased yesterday gains to end lower today, as investors kept a close eye on the Federal Reserve System’s (Fed) rate decision coupled with the falling oil and gas (O&G) stocks, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,643.29, down 1.99 points, from 1,645.28 yesterday.

After opening 0.81 of-a-point higher at 1,645.72, the index moved between 1,639.93 and 1,646.88 throughout the day.

Losers led gainers by 362 to 315, while 383 counters were unchanged, 638 untraded and 31 others were suspended.

Volume rose to 1.43 billion shares worth RM1.64 billion from 1.33 billion shares worth RM1.73 billion yesterday.

Fed will announced its interest rate decision later tonight followed by Chair Janet Yellen’s news conference.

A dealer said higher higher US interest rates would not be good for Asian share markets as investors would shift their money into US dollar-denominated assets, making it expensive for countries using other currencies.

The oil prices fell following a surprise rise in US crude inventories, which dragged down most O&G stocks.

US West Texas Intermediate crude oil fell 1.3 per cent to US$52.29 per barrel while International Brent crude futures was down 1.08 per cent to US$55.12 per barrel.

Of the heavyweights, Maybank improved one sen to RM7.95 and Petronas Chemicals gained one sen to RM6.90. Petronas Gass fell 12 sen to RM21.46.

TNB fell six sen to RM14 and Public Bank eased two sen to RM19.68. 

The FBM Emas Index eased 18.89 points to 11,491.45, FBMT 100 Index dipped 21.72 points to 11,222.73 and the FBM Emas Shariah Index fell 20.40 points to 12,031.67.

The FBM 70 dropped 54.87 points to 13,161.61 and the FBM Ace declined 12.25 points to 4,714.40.

Sector-wise, the Finance Index fell 3.46 points to 14,400.79 and the Industrial Index shed 10.83 points to 3,115.85.

The Plantation Index, however, rose 4.04 points to 7,756.59. 

Main Market turnover fell to 824.65 million units worth RM1.57 billion from 932.68 million units worth RM1.67 billion yesterday.

The ACE Market volume jumped to 412.88 million shares valued at RM33.76 million from 154.73 million shares valued at RM19.21 million yesterday.

Warrants decreased to 193.35 million units worth RM34.17 million from 236.28 million units, worth RM42.43 million previously.

Consumer products accounted for 74.74 million shares traded on the Main Market, industrial products (251.64 million), construction (54.30 million), trade and services (277.65 million), technology (32.09 million), infrastructure (10.85 million), SPAC (6.81 million), finance (37.30 million), hotels (290,000), properties (37.22 million), plantations (21.91 million), mining (222,100), REITs (19.57 million) and closed/fund (60,000). — Bernama