KUALA LUMPUR (Jan 26): Markets may today take their cue from Bank Negara Malaysia's move to increase the overnight policy rate (OPR) by 25 basis points to 3.25% as investors evaluate the interest rate hike's impact on Malaysian shares and the ringgit.

Investors may evaluate the impact of the OPR hike on various industries including the banking and property sectors. Such emphasis may direct the spotlight on banking and property shares on Bursa Malaysia.

The ringgit will be closely watched as investors assess the currency's strength after the OPR hike. As investors closely watch the ringgit, they may also turn their attention to exporters, which sell their products in foreign currencies before converting their overseas earnings into the ringgit. 

At Bursa Malaysia yesterday, the FBM KLCI rose 8.82 points or 0.5% to close at its intraday high at 1,845.86 points. Bursa Malaysia's finance index rose 163.61 points or 0.94% to 17,556.50 points. 

In currency markets, the ringgit strengthened to 3.8855 against the US dollar. Over the last one year, the exchange rate was between 3.8853 and 4.4618.