KUALA LUMPUR: Bursa Malaysia opened marginally higher before diverging to trend lower for the FBM KLCI, while the broader market stayed positive ahead of the highly anticipated rate decision by the US Federal Reserve.

At 9am, the FBM KLCI opened 0.10 of-a-point firmer at 1,545.06 from yesterday's close at 1,544.96.

However, at 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.77 points to 1,541.19 as traders are now keeping a close tab on the FOMC meeting that started yesterday.

On the broader market, gainers led decliners 228 to 186, while 311 counters were unchanged, 1,569 untraded and 11 suspended.

Turnover amounted to 350.64 million units worth RM141.86 million.  Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said in Hong Kong, the HSI lost 208 points as sentiment turned cautious over the forthcoming corporate earnings.

"This is expected to be weak coupled with a less positive outlook for interest rates from the FOMC meeting following recent hot US inflation data," he told the Business Times.

Meanwhile, Thong said the FBM KLCI underwent a minor consolidation as profit-taking activities emerged amid a dampened market undertone after a three day climb.

"In line with this, both YTL International and YTL Corp Bhd closed lower after a solid opening. "We believe the prevailing trading mode to persist until the outcome from the Federal Open Market Committee (FOMC)  is revealed hence we see the index to hover within the 1,540-1,550 range today," he added.

Among the heavyweights, Malayan Banking Bhd was flat at RM9.65 and Tenaga Nasional Bhd fell 2 sen to RM11.48. Top actives on the market include MMAG Holdings Bhd up one sen to 16 sen, MLABS Systems Bhd down 0.5 sen to one sen and Hong Seng Consolidated Bhd unchanged at one sen.