FBM KLCI sustains losses amid growing inflation fears


KUALA LUMPUR: The selling continued on Bursa Malaysia amid a global sell-off in bonds that has sapped investor appetite for equities.

At 12.30pm, the FBM KLCI was down 5.55 points to 1,609.28 while over 700 stocks on the broader market slipped into the red.

Turnover was 1.97 billion shares changing hands for RM1.46bil.

Asian markets were set to close another session in negative territory, a day after minutes from the US Federal Reserve's recent meeting showed concern over rising inflation in light of President-elect Donald Trump's proposed trade tariffs.

Japan's Nikkei dove 1.41% to 39,417, China's composite index dropped 0.29% to 3,220 and Singapore's Straits Times slipped 0.51% to 3,867.

Hong Kong's Hang Seng, meanwhile, rose 0.1% to 19,296.

Decliners on the market included PIE Industrial falling 19 sen to RM6.11, Gamuda sliding 18 sen to RM5.01 and Sunway Construction to 17 sen to RM4.91.

Of actives, Swift Energy rose two sen to 41.5 sen, Velocity dropped 0.5 sen to 7.5 sen and MYEG shed 1.5 sen to 94.5 sen.

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