KUALA LUMPUR: The FBM KLCI is set to end the week on a low note after hotter-than-expected US inflation suggested interest rates could stay higher for longer.
At 12.30pm, the key index was down 3.44 points to 1,540.31 while the broader market was underpinned by 524 decliners against 372 gainers and 407 unchanged.
The share turnover was 2.4 billion shares valued at RM1.24bil.
Of the blue chips, Tenaga dropped 12 sen to RM11.44, Sime Darby slid six sen to RM2.64, IHH shed four sen to RM6.06 and CelcomDigi fell six sen to RM4.23.
Malaysia's heavyweight banks put on weight despite the broad-based decline. CIMB jumped 16 sen to RM6.60, AmBank gained three sen to RM4.10, Maybank rose two sen to RM9.67 and Public Bank added two sen to RM4.25.
Airport operator MAHB, meanwhile, extended its rally for a seventh day, putting on 38 sen to a fresh multi-year high of RM9.38.
Buying interest in the counter accelerated over the last trading session as analysts upgraded their forecasts following the Malaysian Aviation Commission's announcement that new passenger service charges would be introduced on June 1, 2024.
Leading the actives, Hong Seng was flat at 1.5 sen, TWL was unchanged at 3.5 sen and Econpile rose 1.5 sen to 45 sen.
In key Asian markets, sentiment was dampened by the US inflation data as well as ongoing anxieties over China's economy as the state bank left a key lending rate unchanged, withholding much-needed stimulus.
The Shanghai Composite Index was down 0.2% to 3,032 and the blue-chip CSI300 dropped 0.5% to 3,543.
Meanwhile, Hong Kong's Hang Seng dove 2.1% to 16,607.
In Japan, the Nikkei fell 0.5% to 38,621 while South Korea's Kospi slid 1.5% to 2,679 on strong profit-taking activity.
