KUALA LUMPUR, Dec 9 — Bursa Malaysia drifted lower for most of the day but reversed earlier losses to end slightly higher on late buying as investors turned cautiously optimistic ahead of the United States Federal Open Market Committee’s (FOMC) rate decision tomorrow.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) improved 1.39 points, or 0.09 per cent, to 1,614.17 from Monday’s close of 1,612.78.

The benchmark index opened 6.36 points higher at 1,619.14 and subsequently reached a high of 1,620.73 in early trade before easing to an intraday low of 1,606.57 during the mid-morning session. It gather momentum in the late afternoon session towards closing.

On the broader market, decliners thumped gainers 560 to 371. A total of 537 counters were unchanged, 1,279 untraded, and 11 suspended.

Turnover slid to 2.66 billion units worth RM2.09 billion from 3.32 billion units worth RM2.14 billion on Monday.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the FBM KLCI closed steady, supported by a bout of last-minute buying as investors stayed cautious ahead of the FOMC meeting.

“With a near-90 per cent probability of the Federal Reserve’s (Fed) 25-basis-point cut already priced in, market participants are keeping risk exposure contained while awaiting clearer policy guidance and the updated 2026 rate path,” he told Bernama.

Mohd Sedek said sector performance was mixed, and among FBM KLCI constituents, the banking sector posted a modest rebound, reflecting selective accumulation ahead of a potentially more stable rate environment.

“The index is likely to remain range-bound this week, with direction driven by the Fed’s tone and its forward projections.

“A clearer dovish signal could lift sentiment and support large-cap financials, utilities and commodity-linked names. Conversely, any ambiguity or hawkish lean may keep volatility elevated and cap near-term upside. Overall, trading is expected to stay cautious until policy clarity emerges,” he added.

Among heavyweights, Maybank slipped two sen to RM10.10, CIMB Group eased five sen to RM7.85, while Public Bank, IHH Healthcare, and Tenaga Nasional were unchanged at RM4.37, RM8.51, and RM12.70, respectively.

On the most active list, Velesto Energy, BMS Holdings, and Zetrix AI all added half-a-sen to 25.5 sen, 18 sen, and to 80.5 sen, respectively, Main Market debutant Orkim perked up one sen to 93 sen, while Tanco Holdings eased four sen to RM1.14.

Top gainers included Fraser & Neave which rose 44 sen to RM35.20, FCW Holdings jumped 20 sen to RM2.00, Petronas Gas added 18 sen to RM17.20, United Plantations advanced 12 sen to RM28.84, and Allianz Malaysia firmed 12 sen to RM19.72.

Among the top losers, Dutch Lady fell RM1.50 to RM30.00, Nestle declined 80 sen to RM111.70, Malaysian Pacific Industries slipped 22 sen to RM31.88, Chin Teck Plantations decreased 20 sen to RM10.80, and Sarawak Oil Palms lost 10 sen to RM3.84.

On the index board, the FBM Emas Index edged up 7.73 points to 11,933.20, the FBM Emas Shariah Index improved 9.80 points to 11,794.67, the FBMT 100 Index gained 9.79 points to 11,720.98, and the FBM 70 Index advanced 12.46 points to 16,664.50, while the FBM ACE Index slipped 29.34 points to 4,754.29.

Sector-wise, the Plantation Index rose 52.37 points to 8,081.58, and the Industrial Products and Services Index ticked up 0.67 of-a-point to 166.48, while the Financial Services Index shed 3.08 points to 18,930.18, and the Energy Index eased 1.30 points to 751.93.

The Main Market volume narrowed to 1.14 billion units worth RM1.85 billion from 1.16 billion units worth RM1.79 billion on Monday.

Warrants turnover slipped to 1.21 billion units worth RM141.42 million against 1.72 billion units worth RM218.31 million previously.

The ACE Market volume tumbled to 299.51 million units valued at RM96.30 million versus 437.41 million units valued at RM130.50 million previously.

Consumer products and services counters accounted for 187.52 million shares traded on the Main Market, industrial products and services (193.92 million), construction (76.11 million), technology (133.02 million), financial services (39.97 million), property (128.40 million), plantation (24.95 million), real estate investment trusts (19.71 million), closed-end fund (1,500), energy (174.24 million), healthcare (42.01 million), telecommunications and media (16.94 million), transportation and logistics (81.86 million), utilities (30.16 million), and business trusts (497,600). — Bernama