KUALA LUMPUR (Nov 13): The FBM KLCI fell 0.11% as lower crude oil prices dampened sentiment across regional share markets.

At 12:30pm, the KLCI fell 1.77 points to settle at 1,661.43. Across Asia, Japan’s Nikkei 225 declined 0.66%, while Hong Kong’s Hang Seng was down 2.07%.

Reuters reported Asian shares looked vulnerable on Friday, after commodity prices plunged to multi-year lows on worries softer global growth may exacerbate the supply glut, while U.S. Federal Reserve officials kept beating the drum for a rate hike next month.

Benchmark U.S. crude futures were at US$41.52 a barrel at 0417 GMT, down 23 cents from Thursday, when prices tumbled 4% on the back of rising U.S. stocks. The contract was at the lowest since Aug 27.

In Malaysia, Hong Leong Investment Bank Bhd analyst Nick Foo Mun Pang said the KLCI was expected to take the cue from uncertainties surrounding the November corporate financial reporting season and weaker ringgit.

These factors come against sliding crude oil prices and signs of further slowdown in China’s economy, according to Foo.

“Nevertheless, we remain optimistic that KLCI will retest 1,700 and 1,727 (monthly high) levels, amid expectations that Valuecap will start to invest into the equity market in late November or early December, coupled with favourable seasonal year-end window dressing activities,” he said.

Bursa Malaysia saw some 1.22 billion shares worth RM973.01 million traded. Decliners outnumbered gainers at 511 against 242.

Top decliners included British American Tobacco (M) Bhd and Far East Holdings Bhd, while Panasonic Manufacturing Malaysia Bhd led gainers. The most actively-traded stock was Instacom Group Bhd.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)