KUALA LUMPUR (Aug 16): The FBM KLCI drifted lower in early trade this morning in line with regional markets, weighed by losses including at key-index-linked stocks.

At 9.05am, the FBM KLCI fell 4.21 points to 1,596.08.

The early decliners included Nestle (M) Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, PPB Group Bhd, G3 Global Bhd, Public Bank Bhd and Hap Seng Consolidated Bhd.

Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows, according to Reuters.

U.S. President Donald Trump said on Thursday he believed China wanted to make a trade deal and that the dispute would be fairly short, it said.

CGS-CIMB Retail Research said the local bourse fell as much as 20 points at the opening bell yesterday in a gap down move before rebounding swiftly.

It said the KLCI ended yesterday with a marginal loss of 0.02 points.

“The swift rebound in KLCI suggests that the selling activities based on the latest unfavorable events were temporarily absorbed.

“Barring any unexpected negative circumstances, the index is likely to stage a relief rebound today. Resistance: 1,620 & 1,640. Support: 1,589 & 1,572,” it said.