KUALA LUMPUR (Jan 26): The FBM KLCI fell 0.29 point to 1,624.92, erasing brief gains at noon, in line with crude oil and regional share losses.

At 12.30pm, the KLCI fell on losses in stocks like SapuraKencana Petroleum Bhd and Petronas Chemicals Group Bhd.

JF Apex Securities Bhd said in a note today that "following the bearish sentiment in global markets, the KLCI is expected to be negative today, with support at 1,600 points."

Bursa Malaysia saw decliners leading gainers at 565 to 186, while 276 counters traded unchanged. Volume was 726.39 million shares, valued at RM619.58 million.

Top gainers included British American Tobacco (M) Bhd and Panasonic Manufacturing Malaysia Bhd. Leading decliners included Far East Holdings Bhd and Lay Hong Bhd.

AirAsia X Bhd was the most actively-traded counter

Asian share markets fell. Japan's Nikkei 225 fell 1.94%, while Hong Kong's Hang Seng dropped 1.8%

Reuters reported Asian shares retreated and oil prices resumed their descent on Tuesday, as investors took profits on rebounds over the last two days, as fears of a global economic slowdown showed no sign of abating.

Brent crude futures, the global benchmark, dropped to US$30 a barrel, falling 1.3% in Tuesday Asian trade, or 6.5% so far this week. U.S. crude futures fell even more to US$29.83 per barrel, down 7.4% from late last week.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)