KUALA LUMPUR (Feb 26): The FBM KLCI fell 1% in early trade this morning as fears of a coronavirus pandemic rattled most global markets.  

At 9.05am, the FBM KLCI lost 14.99 points to 1,485.89.

The top losers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Genting Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Allianz Malaysia Bhd, Hap Seng Consolidated Bhd, Hong Leong Bank Bhd, Ajinomoto (M) Bhd, Heineken Malaysia Bhd and Sime Darby Plantations Bhd.

Reuters said Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows.

The S&P 500 and the Dow Jones Industrial Average both shed more than 3% on Tuesday in their fourth straight session of losses, it said.

JF Apex Securities Research said US markets plunged for a second day as health officials warned of a possible coronavirus outbreak in the US.

It said that similarly, European stocks tumbled following the outbreak in Italy.

“On the local market, the FBM KLCI rose 10.82 points to 1500.88 points.

“Following the weakened investor sentiment due to the coronavirus and the political uncertainty, the FBM KLCI could remain sideways below the resistance of 1515 points,” it said.