,KUALA LUMPUR: The FBM KLCI retreated on profit-taking ahead of the conclusion of the US Federal Open Market Committee's meeting as investors awaited a decision on monetary policy in the world's largest economy.Sentiment on Wall Street was mixed overnight given anxiety over Fed signals that the central bank would move towards policy tightening amid inflation fears.At 12.30pm, the key index was down 4.99 points to 1,618.97 with bank counters leading the decline.Given the push-pull effect of fewer Covid-19 daily confirmed cases and ongoing tightening fears, the market is expected to extend its consolidation,In its pre-market-open report, Malacca Securites Research said it expects the FBM KLCI to trend sideways with the resistance set along 1,630-1640 while support is pegged to 1,590-1600.Among blue chips, Public Bank fell eight sen to RM4.23, Maybank slid three sen to RM8.42 and CIMB lost three sen to RM4.49.Hartalega was also a leading laggard, dropping 16 sen to RM9.59 while Top Glove shed two sen to RM5.22.Petronas Chemicals slipped five sen to RM8.20 and Tenaga Nasional shed four sen to RM10.76.Most active counters were PHB flat at three sen, Borneo Oil up one sen to 4.5 sen and Scomi up 0.5 sen to 11.5 sen.Most Asian markets were in the red with Japan's Nikkei falling 0.2% and South Korea's Kospi rising 1.2%.China's composite index shed 0.3% and Hong Kong's Hang Seng dipped 0.1%. Australia's ASX200 was down 0.6%.
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