KUALA LUMPUR (June 14): The FBM KLCI fell 0.94% in early trade this morning tracking losses at regional markets, dragged by key index-linked plantation stocks and blue chips.

At 9.05am, the FBM KLCI lost 16.40 points to 1,747.17.

The losers included Nestle (M) Bhd,Fraser & Neave Holdings Bdh, Public Bank Bhd, Kuala Lumpur Kepong Bhd, Genting Plantations Bhd, PPB Group Bhd, Petronas Gas Bhd, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd and Axiata Group Bhd.

Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about U.S.-China trade frictions kept investors on edge, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 percent in early trade. South Korea's KOSPI was off 0.9 percent, while Australia's market slipped 0.2 percent, it said.

JF Apex Securities Research in a market preview said US markets declined overnight after the Federal Reserve raised interest rates.

It said European ended higher ahead of meetings by central banks in Europe and Japan.

“On the local bourse, the FBM KLCI closed 0.59 points lower at 1763.57 points after recovering from intraday low of 1755.38 points.

“Following the bearish performance in Wall Street, the FBM KLCI is expected to remain pressured with support at 1750 points,” it said.