The nation’s benchmark FTSE Bursa Malaysia KLCI closed 0.2 per cent higher at 1,691.07 points after falling 0.3 per cent earlier in the day.

The index is up by 2.3 per cent in August so far, and is on-course for its best monthly performance since March, according to a report in the Nikkei Asian Review.

The ringgit fell 0.2 per cent to 4.0200, its lowest level in one-and-a half weeks.

“We expect the KLCI to engage in a mild consolidation this week amid weakening daily technical indicators.

“Sentiment may turn more cautious as we embrace a flurry of big cap results and as focus on the external front turns to global central bankers meeting in Jackson Hole,” Nikkei Asian Review quoted Sia Ket Ee, an analyst at Hong Leong Investment Bank, as saying.

Investors, the report said, would closely follow Fed chair Janet Yellen’s speech in Jackson Hole, Wyoming, later this week for cues on the possibility and timing of an interest rate increase this year.

Last week, the minutes of the July Fed meeting revealed that policy makers were split over prospects of increasing interest rates this year.

On the KLCI, 19 of the 30 constituents ended higher Monday and 4 closed unchanged, while overall declining issues outnumbered advancing ones 533 to 303.

CIMB and Axiata rose 0.6 per cent to RM4.70 and 0.9per cent to RM5.78. Astro Malaysia rose 3.9 per cent to RM2.97. Petronas Dagangan fell 0.4 per cent to RM23.40 while Genting fell 0.6 per cent to RM8.15.