At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 7.78 points to 1,647.88 from yesterday’s close of 1,655.66.

After opening 21.25 points lower at 1,634.41, the FBM KLCI moved between 1,630.95 and 1,648.59 throughout the session.

A dealer said market sentiment turned bearish following the Federal Reserve’s decision to raise the interest rate by 25 basis points and continue reducing the size of its balance sheet at the current pace of US$50 billion per month.

Regionally, Singapore’s Straits Times Index fell 0.04% to 3,057.30, the Jakarta Composite Index was 0.67% lower at 6,134.66 and Hong Kong’s Hang Seng Index declined 1.13% to 25,574.32.

On the broader market on Bursa Malaysia, losers thumped gainers 436 to 244, while 282 counters were unchanged, 944 untraded and 44 others suspended.

Volume stood at 1.20 billion units valued at RM768.91 million.

Among heavyweights, Maybank lost six sen to RM9.27, Public Bank was flat at RM24.66, Petronas Chemicals was one sen weaker at RM9.12 and Tenaga was eight sen lower at RM12.76.

The FBM Emas Index was 48.20 points lower at 11,241.60, the FBMT 100 Index decreased 46.94 points to 11,158.67, the FBM 70 fell 31.05 points to 12,761.37 and the FBM Emas Shariah Index gave up 71.08 points to 11,088.25 and the FBM Ace Index was 68.15 points lower at 4,178.92.

Sector-wise, the Financial Services Index decreased 63.04 points to 17,126.17, the Plantation Index declined 54.05 points to 6,582.60 and the Industrial Products and Services Index was 0.53 of-a-point weaker at 164.44.

Meanwhile, Hovid Bhd today announced on Bursa Malaysia that its shares would be suspended from trading with effect from 9 am on Jan 16, 2019.