KUALA LUMPUR: The FBM KLCI continued its decline into midday as investor sentiment weakened just over a week before the US Federal Reserve is due to announce its next rate hike.

       At 12.30pm, the key index was down 9.27 points to 1,592.7.

       Plantation stocks however surged amid an Indonesian ban on palm oil exports, further exacerbating the supply shortfall and global food inflation.

       Crude palm oil contract jumped 8.3% to RM7,440 per tonne, its highest in six weeks.

       The Kuala Lumpur Plantations Index gained 4.72% with big gains in producers including Kuala Lumpur Kepong up RM1.60 to RM29.60, IOI Corp rising 23 sen to RM4.66, Sime Darby Plantation climbing 16 sen to RM5.41 and United Plantation adding 54 sen to RM17.04.

       Other sectors meanwhile were mostly lower incuding other commodities plays.

       Petronas Chemicals fell two sen to RM10.28 and Press Metal shed 23 sen to RM6.20.

       Among top actives, Technax was up 0.5 sen to 11 sen, Vizione flat at 10.5 sen and Widad down 0.5 sen to 36 sen.

       In Asian markets, equities fell their most in two weeks in light of the Fed's upcoming rate hike decision.

       Japan's Nikkei dropped 1.9%, South Korea's Kospi fell 1.5% and China's composite index dove 2.4%.

       In Hong Kong, the Hang Seng plunged 2.6% while Australia's ASX200 skidded 1.6%.