KUALA LUMPUR (Oct 23): The FBM KLCI settled down 9.17 points or 0.58% at Bursa Malaysia's afternoon break today as global investors evaluated Texas Instruments' revenue warning and after UK lawmakers rejected the government's planned timetable for passing legislation to ratify its European Union (EU) exit deal.

At 12:30pm, the KLCI settled lower at 1,564.92 with US stock futures and Asian shares. Bursa's top decliners included KLCI stocks Hong Leong Financial Group Bhd and Tenaga Nasional Bhd.

Globally, Reuters reported that US stock futures and Asian shares slipped on Wednesday as revenue warnings from Texas Instruments raised worries about the global tech sector and after British lawmakers forced the government to hit the pause button on the latest Brexit deal.

It was reported that S&P500 mini futures dropped 0.3% while Japan's Nikkei last stood almost flat after having fallen as much as 0.4%. It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%.

After the bell, Texas Instruments, whose broad line-up of products makes it a proxy for the global chip industry, forecast current-quarter revenue to fall 10% to 17% from a year earlier, well below estimates, according to Reuters.

"The defeat in parliament made it unlikely that Britain would finalise its exit by Prime Minister Boris Johnson's Oct 31 target. Johnson said it was up to the EU to decide whether it wanted to delay Brexit and for how long. Though the Brexit complications have had limited impact on US markets, they have contributed to investors' uncertainties about global financial and economic conditions, strategists said," Reuters reported.

In Malaysia, Hong Leong Investment Bank Bhd wrote in a note today Malaysia's Budget 2020 sentiment and US-China trade talks optimism are, however, expected to support Malaysian shares.

"We expect improved sentiment from the Budget 2020 as well as the ongoing trade talks optimism would be able to sustain the positive trading tone among small caps and lower liners on the local front.

"However, the upside may be capped along the way in view of a slightly muted November reporting season. Hence, the KLCI [is] likely to stay within 1,560-1,580," it said.