KUALA LUMPUR (June 22): The FBM KLCI fell 0.65% in early trade, extending its losses in tandem at the selldown at most regional markets.

At 9.05am, the FBM KLCI lost 11.08 points to 1,681.24.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Superlon Holdings Bdh, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd, Tenaga Nasional Bhd, Magni-Tech Industries Bhd, PPB Group Bhd and Top Glove Corp Bhd.

Asian shares were under pressure on Friday on signs U.S. trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, stuck barely above its six-month low hit on Tuesday. Japan's Nikkei lost 1.0 percent, it said.

JF Apex Securities Research in a market preview said US markets tumbled overnight due to ongoing concern of a trade war with China.

It said that earlier, European stocks declined ahead of OPEC meeting that could see members raise oil production.

“On the local market, the FBM KLCI plunged 17.43 points to 1692.32 points.

“Following the bearish performance in the US and Europe, the FBM KLCI could extend its selldown towards the support of 1665 points,” it said.