FBM KLCI slips slightly ahead of Bank Negara decision

At 9am, Malaysia's benchmark stock index was down 0.19 points to 1,389.71.

At 9am, Malaysia's benchmark stock index was down 0.19 points to 1,389.71, in line with Wall Street's negative reaction to the minutes from the most recent US central bank meeting showed more interest rate hike were ahead.

While 22 out of 25 economists polled in a Reuters survey said the Malaysian central bank will keep the rate unchanged, there remains could be a repeat of the May decision, where Bank Negara surprised the market with a 25 basis-point rate hike. Banks were also in the red with Maybank down one sen to RM8.69, Public Bank falling two sen to RM3.88 and CIMB slipping two sen to RM5.16.

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