KUALA LUMPUR (April 28): The FBM KLCI fell 17.58 points or 1.1%, tracking Japan share losses as cautious sentiment on 1Malaysia Development Bhd (1MDB) continued.

At 5pm, the KCLI closed at 1,674.76 points as stocks like SapuraKencana Petroleum Bhd and Tenaga Nasional Bhd fell. Japan's Nikkei 225 fell 3.61%.

Reuters reported that Asian stocks surrendered early gains in chaotic trade on Thursday and the yen surged against the dollar after the Bank of Japan (BOJ) defied market expectations for more monetary stimulus even as prices slipped deeper into deflationary territory.

The BOJ's decision to hold policy steady in the face of soft global demand and an unwelcome rise in the yen has quickly become the market event of the week, overshadowing the US Federal Reserve's decision on Wednesday to keep policy unchanged.

In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com "the decline in the overall market today was attributed to investors' concerns on the saga surrounding 1MDB as well as weak corporate earnings reported by selected blue-chip stocks".

Tenaga fell 20 sen to RM14.20 after the state-controlled utility reported a 39% decline in net profit at RM1.32 billion for the second quarter ended Feb 29, 2016 from RM2.16 billion a year earlier.

SapuraKencana shares dropped 13 sen to RM1.64 after Seadrill Ltd sold its remaining stake comprising some 490 million shares or 8.2% in SapuraKencana for about US$195 million (about RM760 million).

SapuraKencana and Tenaga were Bursa Malaysia's second and 10th most-active stocks. Tenaga was also the seventh-largest decliner.

Across Bursa Malaysia, there were 274 gainers versus 570 decliners. The bourse saw 1.78 billion shares worth RM2.31 billion traded.

Top gainer was Ajinomoto (M) Bhd while top decliner was British American Tobacco (M) Bhd.