Jubilation at evidence of slowing inflation in the US economy turned sour overnight as the Federal Reserve announced a higher-than-anticipated terminal rate of 5.1% in its bid to slow consumer price growth.
This was after the benchmark had posted a 0.9% increase in the previous session on hopes of a more dovish Fed announcement. Bursa Malaysia had seen an inflow of foreign interest in the previous session after nine straight days of net selling, although the decline in blue chip prices may be an indicator that the flow has once again turned negative.
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