KUALA LUMPUR: The FBM KLCI dove following reports that Russia had begun a full-scale invasion of Ukraine.

       In a midday post on Twitter, Ukraine's Foreign Minister said Russia had begun targeting Ukrainian cities with military strikes, calling the invasion a "war of aggression"

       At 12.30pm, the FBM KLCI was down 14.45 points to 1,571.69 in line with a retreating global markets as investors await further developments.

       Asian markets continued their descent amid the geopolitical turmoil. Hong Kong's stock market led losses with the Hang Seng index skidding 3.1%

       Japan's Nikkei dropped 2.4%, South Korea's Kospi lost 2.7% and China's composite index shed 0.9%.

       In Australia, the ASX200 slumped 3%.

       On Bursa Malaysia, investors were quick to cash out with bank counters among the most heavily affected.

       Maybank dropped 13 sen to RM8.64, Public Bank lost six sen to RM4.30, IMB dropped five sen to RM.50 and Hong Leong Bank shed 10 sen to RM19.76.

       Among other leading laggards, Press Metal fell 15 sen to RM6.69, Axiata declined 12 sne to RM3.79 and Petronas Chemicals shaved five sen to RM9.18.

       Brent crude futures surged 4.8% to US$101.52 a barrel, sending sending oil and gas-related counters to new highs.

       Hibiscus Petroleum jumped 10 sen to RM1.29 while Bumi Armada rose 4.5 sen to 55 sen and Hengyuan added 16 sen to RM4.38.

       On the blue-chip index, Petronas Dagangan was seen gaining 24 sen to RM20.26.