KLCI falls 12pts/ 0.7%, tracks Asian markets

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KUALA LUMPUR (Oct 16): The FBM KLCI fell 12.33 points or 0.7%, tracking Asian market losses as world economic growth concerns continued to dent investor sentiment.

At 12.30pm, the KLCI settled at 1,774.51 on losses in stocks like Sime Darby Bhd and SapuraKencana Petroleum Bhd.

Bursa Malaysia saw 1.29 billion shares worth RM1.1 billion changed hands. There were 47 gainers versus 909 decliners.

The top gainer was British American Tobacco (M) Bhd while leading decliner was Fraser & Neave Holdings Bhd.

The most active stocks included oil and gas-related entities Sumatec Resources Bhd and SapuraKencana.

Across Asia, Japan's Nikkei 225 fell 2.42% while Hong Kong's Hang Seng was 0.54% lower.

Reuters reported that Asia extended a selloff in global equities on Thursday, as heightened concerns about world economic growth sent Japanese stocks tumbling and US Treasury yields down.

"It's clear that people are avoiding risks. People started to doubt that the Japanese market may not be able to keep rising only on the recovering US economy," Takatoshi Itoshima, chief portfolio manager at Commons Asset Management was quoted as saying.