KUALA LUMPUR (Sept 1): The FBM KLCI fell 7.51 points or 0.4% while the ringgit weakened after crude oil prices fell overnight.

At 5pm today, the KLCI settled at 1,670.55 points as stocks like SapuraKencana Petroleum Bhd declined.

SapuraKencana fell four sen to RM1.54 with some 24 million shares traded. The stock was the 10th most-active entity across the bourse.

In currency markets, the ringgit weakened to 4.0785 against the US dollar. The ringgit tracks crude oil prices as the commodity forms a crucial portion of the Malaysian economy.

Reuters reported that oil prices steadied on Thursday after Saudi Arabia said OPEC was moving towards a common position on oil production that some investors think could support prices. Brent crude futures for November were unchanged at US$46.89 (RM191.43) a barrel by 0825 GMT after settling US$1.84 lower at Wednesday's close.

It was reported that Asian shares dipped on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if US employment data could put the Federal Reserve on track to hike interest rates.

In Malaysia, Malacca Securities Sdn Bhd technical analyst Loui Low Ley Yee told theedgemarkets.com that the capital market's trading tone had been negative after crude oil prices fell overnight.

"Everyone is in selling mode and this week will be quite negative ahead of the US employment data tomorrow," he said over telephone.

Today, Bursa Malaysia's trading volume was 1.81 billion shares worth RM2.03 billion. There were 279 gainers versus 564 decliners.

Top gainer was Dutch Lady Milk Industries Bhd while the biggest decliners included S P Setia Bhd and Petronas Gas Bhd.

The most-active stocks included Vivocom Intl Holdings Bhd and AirAsia X Bhd.