KUALA LUMPUR: The FBM KLCI was lower at midday as blue-chips gave up some gains from the previous session amid negative market sentiment.

       At 12.30pm, the key index was down 4.97 points to 1,548.44. The market breadth was negative with 470 decliners compared with 305 gainers.

       Petronas Chemicals dropped six sen to RM10 as Brent crude prices slipped 1.8% to US$114.16 a barrel as Saudi Arabia offered reassurances over production.

       Public Bank dipped two sen to RM4.61 and Tenaga Nasional slipped three sen to RM8.97.

       Consumer counters were up with Nestle gaining 90 sen to RM134.30, F&N climbing 36 sen to RM19.98 and Carlsberg gaining 24 sen to RM22.74.

       Meanwhile, top actives were Sapura Energy down 1.5 sne to 5.5 sen, MNC unchanged at two sen and Top Glove down 11 sen to RM1.26.

       In Asian markets, equities were broadly lower on investor worries over high inflation and the threat of recession.

       Japan's Nikkei slipped 0.1%, South Korea's Kospi fell 1.1% and China's composite index rose 0.1%.

       Hong Kong's Hang Seng dove 1.6% and Australia's ASX200 shed 1%.