KUALA LUMPUR (Nov 27): The FBM KLCI and ringgit may track lower crude oil prices in the absence of US share leads. US equity markets were closed on Thursday and will be opened for half-day trades on Friday.

Yesterday, the FBM KLCI fell 1.33 points or 0.1% to close at 1,683.09 as investors locked in gains from the index's advance in recent days. The ringgit weakened to 4.2218.   

The ringgit's strength hinges on prices of crude oil as the commodity forms a crucial portion of the Malaysian economy. Cheaper oil may also drag oil and gas-related shares into the spotlight.

Overnight, Reuters reported that Brent crude settled down 71 cents at US$45.46 a barrel, having earlier dropped more than US$1 to a session low of US$45 a barrel.

West Texas Intermediate futures, the US crude benchmark, were 53 cents lower at US$42.51 per barrel at 1957 GMT, after rising to US$43.30 earlier in the session.

Malaysian exporters have been closely watched. Analysts told theedgemarkets.com the weaker ringgit could direct attention to shares of export-based companies like rubber glove and semiconductor manufacturers.

Jupiter Securities chief market strategist Benny Lee said exporters stood out as investors digested Malaysian corporate financials during this month's reporting season.