Investors trade sideways as Fed signals faster pace of rate hikes

KUALA LUMPUR: Investors searched for direction on in early Tuesday trade as US Federal Reserve chairman Jerome Powell signalled a more aggressive approach to interest rate hikes moving forward, although escalating commodity prices provided support.

US markets were subdued overnight as Fed chair Jerome Powell said the federal fund rate could be raised by more than 25bps at future policy meetings if required to rein in soaring inflation.