KUALA LUMPUR (March 14): The FBM KLCI retreated in early trade this morning in line with the decline at most regional markets, following the weaker overnight close at Wall Street.

At 9,05am, the FBM KLCI dipped 1.89 points to 1,862.14.

The early decliners included UMW Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, MISC Bhd, Aeon Credit Service (M) Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, ViTrox Corp Bhd, Ibraco Bhd, Choo Bee Metal Industries Bhd and Gabungan AQRS Bhd.

Asian shares eased on Wednesday amid fears of rising U.S. protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports, according to Reuters.

The combination left investors scurrying for safety as global equities took a knock, the dollar fell and bonds rose, it said.

JF Apex Securities Research in a market preview said US markets declined overnight after President Trump sacked US Secretary of State Rex Tillerson and blocked Broadcom from buying Qualcomm.

It said that earlier, European stock tumbled following the political development in the US.

“On the local market, FBM KLCI added 2.81 points to 1864.03 points.

“Following the bearish performance in the US and Europe, the FBM KLCI could fall back towards the 1840-point level,” it said.