KUALA LUMPUR, Dec 15 — Bursa Malaysia finished lower today with investor sentiment sapped after the US Federal Reserve System (Fed) decided to raise interest rates by 25 basis points, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,636.99, down 6.30 points, from 1,643.29 yesterday.

After opening 7.55 points easier at 1,635.74, the index moved between 1,629.86 and 1,638.79 throughout the day.

Losers led gainers by 376 to 350, while 365 counters were unchanged, 623 untraded and 33 others were suspended.

Volume fell 1.21 billion shares worth RM1.48 billion from 1.43 billion shares worth RM1.64 billion yesterday.

A dealer said the Fed decision, along with two more likely increases next year, would keep investors in jittery mood.

“However, the Fed’s indication to move more aggressively is likely to send the US dollar higher and rattle emerging markets,” he said.

Another dealer said the higher US interest rate would not be good for regional markets as investors would shift their money into US dollar-denominated assets, making it expensive for countries using other currencies.

The rebound in global oil prices did not lend much support to the local bourse as energy stocks were affected by the Fed decision, he said.

International Brent crude oil was at US$53.93 per barrel, up three US cents and US West Texas Intermediate crude oil was down by nine US cents to US$50.95 per barrel.

Of the heavyweights, Maybank decreased three sen to RM7.92, TNB and Public Bank eased two sen each to RM13.98 and RM19.66, respectively. Petronas Chemicals gave up five sen to RM6.85, but Sime Darby was flat at RM8.15.

The FBM Emas Index dipped 32.77 points to 11,458.68, FBMT 100 Index plunged 35.19 points to 11,187.54 and the FBM Emas Shariah Index fell 27.07 points to 12,004.60.

The FBM 70 shed 12.90 points to 13,148.71. The FBM Ace garnered 35.03 points to 4,749.43.

Sector-wise, the Finance Index plunged 57.69 points to 14,343.10 and the Industrial Index fell 17.89 points to 3,097.96.

The Plantation Index, however, rose 14.90 points to 7,771.49. 

Main Market turnover fell to 763.22 million units worth RM1.4 billion from 824.65 million units worth RM1.57 billion yesterday.

The ACE Market volume declined to 202.71 million shares valued at RM24.96 million from 412.88 million shares valued at RM33.76 million yesterday.

Warrants rose 241.42 million units worth RM470.87 million from 193.35 million units worth RM34.17 million previously.

Consumer products accounted for 37.79 million shares traded on the Main Market, industrial products (237.70 million), construction (60.65 million), trade and services (252.73 million), technology (32.77 million), infrastructure (6.74 million), SPAC (7.48 million), finance (50.50 million), hotels (264,400), properties (31.58 million), plantations (18.84 million), mining (0), REITs (26.15 million) and closed/fund (17,200). — Bernama