KUALA LUMPUR (May 24): The FBM KLCI fell below 1,800 points as foreign selling pressure on Malaysian blue-chip stocks continued. This is due to expectation that credit rating agencies may revise their ratings for the country amid concerns on the nation's debt management.

Malaysian shares could have also taken cue from the US's national security investigation into car and truck imports. Reuters reported that Asian shares fell on Thursday after the US government launched a national security probe into car imports that could lead to new tariffs, and President Donald Trump's comments suggested setbacks in US-China trade talks.

At 3:24pm, the KLCI was down 23.93 points or 1.33% at 1,780.32 points. Yesterday (Wednesday, May 23), the KLCI fell 40.78 points to 1,804.25 points.

Today, TA Securities Holdings Bhd wrote in a note: "Blue chips slumped further on Wednesday as foreign selling pressure persisted on concerns the higher government debt may trigger ratings downgrade and amid souring sentiment over the US-China trade talks."

"Bearish momentum from persistent foreign selling on index heavyweights should pressure stocks lower to stronger key chart supports before stabilising," TA said.