KUALA LUMPUR (Sept 11): The FBM KLCI remains in the red in the mid-afternoon, dragged largely by banking counters and select blue chips.

At 3.03pm, the benchmark index was down 7.25 points or 0.45% at 1,606.77 points. It earlier touched an intra-day low of 1,604.54 points.

RHB Capital Bhd, Public Bhd and Hong Leong Bank Bhd were among the top six decliners on Bursa Malaysia today ahead of an interest rate decision by the central bank.

The finance index was at 14,050.78 points, down 166.01 points or 1.17%.

At the top of the losers list was British American Tobacco (Malaysia) Bhd, followed by United Plantations Bhd and Genting Bhd.

Reuters reported that Southeast Asian stock markets were largely mixed today as a rally in overnight oil prices lifted energy shares, but selling in banking stocks sent the Malaysian index lower.

The Kuala Lumpur composite index was down 0.5% after three sessions of gains and looks set to end the week about 1% higher, it said.

It said Bank Negara Malaysia is expected to unveil its interest rate decision around 1000 GMT after market hours, with all 13 economists in a Reuters poll expecting it to hold the benchmark rate steady at 3.25%.

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