KUALA LUMPUR: The FBM KLCI backed away from intra-day highs as investors were quick to take profit amid the negative market sentiment.
At 12.30pm, the key index was up 9.36 points to 1,468.41, which saw the index dwelling at 18-month lows. Meanwhile, the overall market was positive with 457 gainers compared with 335 decliners.
Trading volume remained subdued due to the risk-off sentiment with 1.34 billion shares with a value of RM823.57mil.
On the blue-chip index, Maybank was up seven sen to RM8.70, Public Bank gained five sen to RM4.53, Hong Leong Bank climbed 28 sen to RM20.92 and CIMB rose seven sen to RM5.03.
Press Metal added six sen to RM4.90, Petronas Chemicals gained 12 sen to RM9.65 and Petronas Gas rose 18 sen to RM16.42.
Among actives, BCM Alliance was unchanged at 2.5 sen, LGMS added 3.5 sen to 80.5 sen and Yong Tai gained 0.5 sen to nine sen.
In major Asian markets, equities bounced in line with Wall Street's positive performance after the US Federal Reserve's 75 basis point rate hike met expectations.
Japan's Nikkei gained 1.2%, South Korea's Kospi added 1.3% and China's composite index put on 0.25%.
Hong Kong's Hang Seng however retreated 0.4% while Australia's ASX200 was up 0.3%.