KUALA LUMPUR (March 8): The FBM KLCI slipped 3.12 points or 0.2% ahead of the US Federal Reserve's interest rate decision next week.

The Federal Reserve's Federal Open Market Committee will meet this Tuesday and Wednesday (March 14 and 15) to decide on the country's interest rate policy. At 5pm today, the KLCI closed at 1,725.54 points.

The KLCI fell with Asian share markets on the US interest rate sentiment. Reuters reported that most Southeast Asian stock markets slipped on Wednesday as caution set in ahead of the US Federal Reserve's meeting next week where it is widely expected to raise interest rates.

In Malaysia, Etiqa research head Chris Eng told theedgemarkets.com that the equity market was in consolidation mode as investors waited for the outcome of the Federal Reserve's meeting.

"The (Malaysian) economic fundamentals are still positive at the moment. It's a matter of how much it (Malaysian stock market) retraces back as we wait for the Fed's decision before it continues to climb higher," Eng said.

Bursa Malaysia saw a trading volume of 3.08 billion shares worth RM2.45 billion.

There were 472 gainers against 416 decliners.