KUALA LUMPUR: The FBM KLCI was slightly lower at midday amid the soft investor sentiment as the US Federal Reserve's stance on interest rate hikes grew increasingly aggressive.
At 12.30pm, the benchmark index was down 0.31 point to 1,598.01. The overall market was bearish with 529 decliners outpacing 308 gainers.
Technology stocks were the most hard-hit, in line with the sharp selling on the Nasdaq in recent days as fund managers price in increasingly aggressive rate hikes.
The Kuala Lumpur Technology Index fell 2% to erase gains made over the last two sessions.
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