KUALA LUMPUR: The FBM KLCI closed marginally lower on Monday as investors' sentiment remained negative while awaiting the outcome of the US Federal Open Market Committee (FOMC) meeting.

       At 5pm, the 30-stock index was nearly flat to close at 1,567.44 points, down 0.78 of a point. Trading volume stood at 2.51 billion units worth RM2.22bil.

       In the broader market, decliners outnumbered gainers 637 to 317 while 368 counters were unchanged.

       Dealers said market sentiment was jittery ahead of the FOMC meeting, which would be held on March 15-16.

       The Fed is widely expected to kickstart its rate hike cycle in the March meeting, commencing with a 25 basis points increase, despite the uncertainties caused by the Ukraine invasion.

       “Should the Fed turn less hawkish in the upcoming meeting that may push the market higher going forward,” Malacca Securities said.

       On Bursa Malaysia, Nestle was the day's top gainer, rising 70 sen to RM136.90.

       Other top gainers included Hartalega, which added 33 sen to RM4.63 and Kuala Lumpur Kepong, which gained 24 sen to RM26.34.

       Malaysian Pacific Industries, the top loser on Bursa Malaysia, lost 94 sen to RM31.10, F&N fell 62 sen to RM21 and Sarawak Oil Palms eased 46 sen to RM5.69.

       Velesto was the most actively traded stock. The stock, which saw 96.25 million shares traded, slipped 0.5 sen to 10.5 sen.

       Meanwhile, the ringgit was quoted at 4.209, down 0.31% against the US dollar.

       US light crude oil fell US$3.02 to US$106.31 and Brent lost US$2.48 to US$110.19 per barrel.

       On the external front, MSCI’s Asia ex-Japan stock index was lower by 2%.

       Japan’s Nikkei 225 advanced 0.58% to 25,307.85 while South Korea’s Kospi closed down 15.63 points, or 0.59%, at 2,645.65.

       Hong Kong’s Hang Seng ended 4.97% lower at 19,531.66.

       China’s CSI300 index fell 3.06% to 4,174.76 while the Shanghai Composite eased 2.6% to 3,223.53.