KUALA LUMPUR (March 6): The FBM KLCI followed regional markets lower and fell 0.59% in early trade Friday after the overnight rout at Wall Street, dragged by losses at index-linked blue chips.  

At 9.0.5am, the FBM KLCI lost 8.69 points to 1,482.34.

The top losers included Carlsberg Brewery Malaysia Bhd, Petronas Gas Bhd, Public Bank Bhd, British American Tobacco (M) Bhd, Tenaga Nasional Bhd, Malaysia Airports Holdings Bhd, Petronas Chemicals Group Bhd, KESM Industries Bhd and Rapid Synergy Bhd.

Reuters said Asian shares fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5%. Australian shares fell 1.86%, while Japan's Nikkei stock index slid 1.45%, it said.

JF Apex Securities Research said US markets tumbled overnight on volatile trading amid ongoing concerns over the coronavirus outbreak.

It said that similarly, European stocks tanked as the coronavirus continues to spread.

“On the local market, the FBM KLCI was flat after adding 1.08 points to 1491.03 points.

“Following the bearish performances in the US and Europe, the FBM KLCI could be pressured and trend lower below its resistance of 1520 points,” it said.