KUALA LUMPUR (March 30): The FBM KLCI fell 1.67% in early trade Monday, dragged by key index-linked stocks, tracking losses at most regional markets as U.S. stock futures tumbled in early trade.

At 9,05am, the FBM KLCI fell 22.02 points to 1,321.07.

Among the decliners were Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Hong Leong Bank Bhd, Kuala Lumpur Kepong Bhd, Allianz Malaysia Bhd, Yinson Holdings Bhd, Public Bank Bhd, PPB Group Bhd, Tenaga Nasional Bhd and Ajinomoto (M) Bhd.

Reuters said Asian share markets looked set for a rocky start on Monday as U.S. stock futures took an early spill amid fears the global shutdown for the coronavirus could last for months, doing untold harm to economies.

E-Mini futures for the S&P 500 skidded 1.7% right from the bell, while Nikkei futures pointed to an opening loss of around 500 points, it said.

JF Apex Securities Research said US markets declined on Friday as investors took profit from the relief rally as the coronavirus spreads in the US.

It said that earlier, European stocks tumbled as investors wait for governments to agree on a unified response towards the coronavirus.

“On the local market, the FBM KLCI rose 15 points to 1343.09 points.

“Following the negative performances in the US and Europe, the FBM KLCI could consolidate below the resistance of 1370 points,” it said.

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