KLCI down 4.43 points as Asian markets hit a seven-week low on Fed concerns

KUALA LUMPUR: The FBM KLCI fell by 4.43 points to 1,630.46 points at the midday close with Asian markets declining to a seven-week low as speculation mounted that the US Federal Reserve will begin raising rates as soon as next month.

It had earlier fallen to an intraday low of 1,625.81 points before steadily recovering to finish above the 1,630 points mark at the midday close.