KUALA LUMPUR: The FBM KLCI descended descended sharply in morning trade as profit-taking accelerated amid worsening conflict in the Ukraine-Russia crisis.

       Reports of escalating violence and Russian troops targeting Ukrainian civilians overshadowed a strong US jobs report over the weekend, triggering further selling in global equities.

       At 12.30pm, the FBM KLCI was down 25.88 points to 1,578.06 with the financial services sector leading the rout.

       Maybank dropped 20 sen to RM8.80, CIMB lost 20 sen to RM4.87 and Public Bank shaved seven sen to R4.35 amid the ongoing disruption to the global economy.

       While crude palm oil prices rebounded following three days of profit-taking, plantation counters showed mixed results amid the growing caution.

       Kuala Lumpur Kepong was down 16 sen to RM27.88, IOI fell four sen to RM4.55 but Sime Darby Plantation climbed eight sne to RM5.18.

       Petronas Chemicals continued to advance on the back of the surge in crude oil prices. The petrochemicals major rose 14 sen to RM10.18.

       At the time of writing, Brent crude was up over 9% to US$129.26 a barrel as supply disruption fears in the crude oil market intensified.

       The most active stock on the market, Hibiscus Petroleum, was also one of the leading beneficiaries of the oil price surge, rising 11 sen to RM1.35.

       Bumi Armada was the third most active, falling one sen to 44 sen.

       The equities rout hit major Asian markets hard with Hong Kong's Hang Seng slumping 3.4%

       Japan's Nikkei was also a leading decliner with a loss of 3.2%.

       South Korea's Kospi was down 2% while China's composite index slid 1.5%.

       Australia's ASX200 fell 1.2%