KUALA LUMPUR: Investors have their eyes trained on interest rates this week as the US Federal Reserve is due to decide on interest rates even as renewed strikes in the Middle East keep oil prices elevated.
Malaysia's main stock index was 2.61 points lower to 1,608.3 at 9.05am, as the equities prices pulled back after a four-day rebound.
Plantations and bank shares fell as traders took profit after the recent price recovery. Kuala Lumpur Kepong dropped 36 sen to RM20.16, SD Guthrie slid one sen to RM5.74, Maybank shed six sen to RM10 and Public Bank slipped one sen to RM4.74.
"Geopolitics remains the dominant swing factor heading into the new week, with Iran’s warning of renewed strikes and reports of a possible US-Israel response keeping Brent above US$114 a barrel and weighing on risk appetite across Wall Street and Europe on Friday," said Apex Securities.
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