KUALA LUMPUR, Jan 25 ― Bursa Malaysia remained lower across-the-board at mid-day today on ongoing fears of a faster interest rate hike in the United States and geopolitical tensions in Russia and Ukraine, an analyst said.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 1.11 per cent or 16.97 points to 1,504.89 from 1,521.86 at yesterday's close.

After opening 4.77 points weaker at 1,517.09, the key index moved between 1,503.75 and 1,517.09.

Market breadth was negative with decliners thumping advancers 783 to 149, while 315 counters were unchanged, 1,033 untraded, and 30 others suspended.

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Turnover stood at 1.77 billion units worth RM1.10 billion.

The analyst said investors expected the US Federal Reserve (Fed) to increase interest rate four times this year to curb inflation.

Meanwhile, according to reports, the tensions between Russia and Ukraine could potentially lead to a war influenced by issues on territorial borders. 

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Russia recently amassed tens of thousands of troops near Ukraine’s eastern border, prompting fears that the Kremlin could be planning another military offensive against its former Soviet neighbour.

On the local burse, heavyweights Maybank fell six sen to RM8.19, Public Bank eased one sen to RM4.18, Petronas Chemicals declined two sen to RM8.88 sen, IHH Healthcare slipped 14 sen to RM6.33, and CIMB dipped four sen to RM5.21.

As for the actives, Senheng fell 17.5 sen to 89.5 sen, DNex shed 3.5 sen to 89.5 sen, and Coraza dropped one sen to 80.5 sen. 

Nestle topped the losers list after falling by 90 sen to RM132.10, followed by Malaysian Pacific Industries and PPB Group which fell by 72 sen and 34 sen to RM38.78 and RM16.26, respectively.

On the index board, FBM ACE slid 128.66 points to 5,974.32 and FBM 70 declined 111.89 points to 13,293.89, while FBM Emas Index erased 120.59 points to 10,796.92, FBMT 100 Index decreased 111.81 points to 10,513.23 and FBM Emas Shariah Index slipped 152.46 points to 11,474.46.

Sector-wise, the Financial Services Index was 76.90 points lower at 15,623.96, the Industrial Products and Services Index eased 2.17 points at 198.34, and the Plantation Index was 97.51 points lower at 6,629.12. ― Bernama