The benchmark FBM KLCI shed 3.88 points to settle at 1,495.50 just 15 minutes after opening. It closed at 1,499.38 yesterday.

Dealers attributed the poor start to the day with mild profit-taking that emerged in selected heavyweights despite the cautious sentiment in regional markets.

The market bellwether began the day 4.07 points weaker at 1,495.31.

Meanwhile, the ringgit retreated from yesterday’s gain as investors stayed at the sidelines while awaiting a decision on the overnight policy rate (OPR).

Bank Negara Malaysia’s monetary policy committee begins its two-day meeting today during which a decision on whether or not to raise interest rates will be made.

At 9.06am, the ringgit depreciated to 4.3270/4.3310 against the greenback from yesterday’s close of 4.3250/4.3280.