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Commodities

KLCI Bounces on Oil Price Dip Ahead of Fed Meeting

Guavy AI Editorial Team
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Oil
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The FBM KLCI index picked up slightly on Monday as crude oil prices fell after fighting in the Gulf subsided, raising hopes for peace talks.

However, gains were capped by cautionary trading ahead of the Federal Open Market Committee meeting on Wednesday. The FBM KLCI rose 4.19 points or a quarter percent to 1,705.05 at 9:13am.

Ahead of the Fed's decision, researchers at Apex Securities noted that while interest rates are expected to remain unchanged for a fifth consecutive meeting, there is a possibility of a surprise 25-basis-point rate hike due to renewed inflation concerns following the recent surge in oil prices. The firm also highlighted that market sentiment may be influenced by the implementation of the US's new tariffs on 60 trading partners and fluctuations in crude oil prices.

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