KUALA LUMPUR (June 28): The FBM KLCI extended its losses early this morning, dragged by key index-linked blue chips, in line with slump at most regional markets.

At 9.10am, the FBM KLCI fell 3.69 points to 1,662.39.

The early losers included Carlsberg Brewery Malaysia Bhd, Hong Leong Bank Bhd, Public Bank Bhd, PPB Group Bhd, Kuala Lumpur Kepong Bhd, Pentamaster Corp Bhd, Tenaga Nasional Bhd, LPI Capital Bhd, BIMB Holdings Bhd and Khind Bhd.

Asian stocks slumped to nine-month lows on Thursday on growing worries the U.S. administration's approach to trade is harming global economic growth even as it appeared to be modifying its approach to curb Chinese investments in U.S. technology firms, according to Reuters.

U.S. oil prices hit a 3-1/2-year high as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington's demands that importers stop buying Iranian crude, it said.

JF Apex Securities Research in a market preview said US markets declined overnight following losses in technology and banking counters.

It said that earlier, European stocks advanced following higher oil prices and news that US' trade policy was less harsh than expected.

“On the local market, the FBM KLCI tumbled 9.78 points to 1666.08 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could consolidate and hover sideways above its support of 1665 points,” it said.