KUALA LUMPUR (Oct 11): The FBM KLCI lost 2.75% at mid-morning today, tracking the sea of red across regional markets.

At 10am, the FBM KLCI lost 46.51 points to 1,688.67. The index had earlier slumped to a low of 1,682.98.

Losers hammered gainers by 863 to 66, while 146 counters traded unchanged. Volume was 1 billion shares valued at RM710.72 million.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, United Plantations Bhd, Petronas Dagangan Bhd, Tenaga Nasional Bhd, Panasonic Manufacturing Malaysia Bhd, Heineken Malaysia Bhd, Petronas Gas Bhd, Malaysian Pacific Industries Bhd and Aeon Credit Service (M) Bhd.

The actives included Sapura Energy Bhd, Gamuda Bhd, Hibiscus Petroleum Bhd, Sumatec Resources Bhd, Borneo Oil Bhd, Velesto Energy Bhd, Orion IXL Bhd, AirAsia X Bhd and My EG Services Bhd.

Gainers included Malaysia-listed Hang Seng Index-linked put warrants.

Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe, according to Reuters.

It also raised the stakes for US inflation figures due later on Thursday as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve, it said.

Hong Leong IB Research in a traders' brief said it sees limited upside rebound on the FBM KLCI and negative broader market sentiment with the weak construction outlook, coupled with speculation of new taxes that could be implemented in the upcoming Budget 2019.

"Hence, investors will be taking a cautious approach at least for the near term until more clarity on Nov 2, limiting the upside potential of KLCI around 1,750-1,760," it said.