KUALA LUMPUR: The FBM KLCI remained firmly in the red at midday as investors stayed to the sidelines amid the soft market sentiment and growing fears over global inflation.

       At 12.30pm, the key index was down 6.32 points to 1,517.71, in line with regional markets as recent Producer Price Indices showed a sharp increase over October.

       On the domestic front, investors remained cautious over the upcoming 3Q GDP data and Melaka state elections.

       Among FBM KLCI stocks, Axiata was down six sen to RM3.82, Digi dropped two sen to RM4.22 and Maxis was flat at RM4.59.

       Plantation stock Sime Darby Plantation fell seven sen to RM3.96 and IOI slid three sen to RM3.78.

       Banks were also weak with Public Bank dropping one sen to RM4.02, CIMB shedding two sen to RM5 and Hong Leong Bank falling eight sen to RM18.02.

       On the broader market, there were 373 negative counters versus 277 gainers.

       Top actives were Eduspec up 0.5 sen to two sen, KNM falling 0.5 sen to 20 sen and Solution surging 17.5 sen to 60 sen.

       In Asian, markets tracked Wall Street lower on inflation fears.

       Japan's Nikkei fell 0.7% and South Korea's Kospi dropped 1.1%.

       In China, the composite index slid 1.2% while Hong Kong's Hang Seng shed 1.2%.

       Australia's ASX200 slipped 0.25%.