Market breadth turned negative as losers overpowered the gainers on a ratio of 1,084-to-138 stocks. Turnover stood at 3.26 billion shares valued at RM2.26bil.
A 50 basis point hike is widely expected as policymakers seek to rein in inflation at a time of still-robust business activity growth. Adding to the pessimistic risk backdrop are further Covid outbreaks in mainland China with new restrictions imposed on Beijing and Shanghai.