KUALA LUMPUR (March 16): The FBM KLCI opened lower on Monday in line with the decline at regional markets as key heavyweights included Telekom Malaysia Bhd and Tenaga Nasional Bhd fell.

At 9.01am, the FBM KLCI fell 5.29 points to 1,776.46.

The top losers included Hong Leong Financial Group Bhd, Kuala Lumpur Kepong Bhd, Parkson Group Holdings Bhd, Petronas Dagangan Bhd, MISC Bhd, Malaysia Airports Holdings Bhd, SapuraKencana Petroleum Bhd, Gamuda Bhd, Maxis Bhd, UMW Holdings Bhd, Telekom Malaysia Bhd and Tenaga Nasional Bhd.

Asian shares began the week on the back foot on Monday after a downbeat session on Wall Street, while the euro skidded to a fresh 12-year low on divergent monetary policy paths between the United States and the euro zone, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent in early trade, pushing back toward last week's seven-week lows, it said.

BIMB Securities Researh in a market preview Monday said that in Asia, key indexes ended mixed last Friday with strong rally in Japan after strong gains in consumer electronic stocks.

Locally, it said the FBM KLCI ended lower, losing 5.12 points to 1,781.75, dragged down by O&G and plantation counters; and strong selling by foreign institutions.

“We expect the local market to remain negative for today due to lack of fresh catalysts with the index hovering around 1,775-85,” it said.