KUALA LUMPUR (March 28): The FBM KLCI extended its losses in early trade this morning, tracking the sea of red at the regional markets.

At 9.05am, the FBM KLCI shed 0.50 points to 1,642.23.

The top losers included Aeon Credit Services (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Public Bank Bhd, Yinson Holdings Bhd, Bursa Malaysia Bhd, Apex Healthcare Bhd, Lingkaran Trans Kota Holdings Bhd and IOI Corp Bhd.

Asian share markets were painted red on Thursday as recession concerns sent bond yields spiralling lower across the globe, overshadowing central bank attempts to calm frayed nerves, according to Reuters.

Sterling was also hit by another bout of Brexit blues after a round of votes in the U.K. parliament failed to produce any plan to manage the divorce, it said.

Kenanga IB Research said Asian markets ended mixed as investors took a cautious stance over worries of a slowdown in the global economy.

It said the FBMKLCI fell 7.21points or 0.44% to close lower at 1,642.73.

“The outlook of the index remains bearish as its 20-and-50 day SMAs crossed below its 100-day SMA.

“However, we do not discount the possibility of a short technical rebound, should RSI fall into the oversold territory.

“Should a technical rebound happen, we look towards 1,660 (R1) and 1,700 (R2) as resistance levels,” it said.