KUALA LUMPUR (May 14): The FBM KLCI fell sharply early this morning when the market resumed trade after the long post election holiday.

At 9.05am, the FBM KLCI lost 44.30 points to 1,802.21.

The top losers included George Kent (M) Bhd, Gamuda Bhd, Malaysia Airports Holdings Bhd, My E.G. Services Bhd, Axiata Group Bhd, CIMB Group Holdings Bhd, Lingkaran Trans Kota Holdings Bhd, Cahya Mata Sarawak Bhd, Kuala Lumpur Kepong Bhd and Gabungan AQRS Bhd.

Asian shares held near one-month highs on Monday on signs the United States and China were toning down their trade war rhetoric, while the dollar dipped again as investors wagered on a slower pace of U.S. interest rate hikes, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.07 percent, on track for a third straight day of gains and within striking distance of one-month high, it said.

JF Apex Securities Research in a market preview said US markets advanced on Friday and extended its winning streak to 7 days following gains in energy counters.

It said that earlier, Euoprean stocks ended mixed as oil prices came took a breather from the recent surge.

“On the local bourse, the FBM KLCI jumped 18.31 points to 1846.51 points on last Tuesday.

“The local market is expected to be volatile following the outcome of the election. For the downside, the support is at 1800 points,” it said.