FBM KLCI falls amid broad selling, ringgit sinks to one-month low

KUALA LUMPUR: The FBM KLCI ended lower on Thursday amid broad-based selling pressure, while the ringgit extended its decline against the US dollar to a one-month low.

The 30-stock index fell 4.47 points, or 0.27%, to 1,674.74 after trading within a 14.17-point range, between an intraday high of 1,684.92 and a low of 1,670.75.

In the broader market, decliners outnumbered advancers 673 to 465, resulting in a market breadth ratio of 0.69, indicating broad-based selling pressure.

Dealers said market sentiment was weighed down by the US Federal Reserve’s decision to raise interest rates by 25 basis points, which renewed concerns over tighter global financial conditions and pressured regional equities and currencies.

They said the stronger US dollar following the Fed’s decision also weighed on the ringgit, which extended its decline to a one-month low.