KUALA LUMPUR (Sept 13): The FBM KLCI fell 9.26 points or 0.55% today on weak sentiment as traders reacted to Friday's slide on Wall Street notwithstanding the recovery in the US markets yesterday.

The benchmark index settled at 1,677.18 points after it fell to an intra-day low of 1,672.24.

Malacca Securities Sdn Bhd technical analyst Loui Low Ley Yee said the overall sentiment in the KLCI was weak despite the Asian market doing well in general. He also noted that the volume is low and believe that retailers are the ones doing most of the selling.

"There is, however, one sector that is performing well, which is metal. It is probably due to the newsflow surrounding Mega Steel, which has ceased operations at its steel products plant.

"This is a positive surprise to the other steel players with less supply in tandem with the construction play theme as well. Metal sector should be able to sustain its momentum for the next few weeks," said Low.

Trading volume was thin, at 1.36 billion shares worth RM1.51 billion. There were 637 counters that fell compared to 206 that rose while 316 counters were unchanged.

Gainers were led by Dutch Lady Milk Industries Bhd while British American Tobacco (M) Bhd was the biggest loser. Melewar Industrial Group Bhd was the most active counter for the day.

Reuters reported that Asian stocks rose today after Federal Reserve governor Lael Brainard calmed global markets with remarks that appeared to reduce the prospect of a near-term interest rate hike.

Japan's Nikkei 225 was up 0.34% and South Korea's Kospi edged higher by 0.4% while Singapore's STI slipped by 1.82%.

Investors were unfazed by a run of relatively upbeat Chinese data that included industrial output, which rose a better-than-expected 6.3% in August, further dimming expectations of a rate cut any time soon, Reuters said.