KUALA LUMPUR (Feb 19): The FBM KLCI fell 5.14 points or 0.3% with regional share markets as crude oil prices declined on higher US inventory.

At 5pm, the KLCI closed at 1,674.88 points, dragged down by stocks like IOI Corp Bhd and Genting Bhd. Across Asia, Japan's Nikkei 225 fell 1.42%, Hong Kong's Hang Seng was down 0.4% while South Korea's Kospi closed 0.39% higher.

Reuters reported that Asian shares slipped from near three-week highs on Friday as a rally in oil prices reversed and investors remained cautious about the outlook for the global economy.

Oil prices reversed earlier gains on Thursday following a rise in US stockpiles but look set to post their first weekly rise in three weeks after the battered market took heart from a tentative deal by major producers to freeze output at January's highs.

Brent futures had fallen 27 US cents to US$34.01 a barrel as of 0746 GMT, after ending the previous session down 22 US cents. US crude had slipped 32 US cents to US$30.45 a barrel, after settling up 11 US cents the session before.

In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that besides crude oil prices, the KLCI's direction would hinge on China's economic data.

"Moving forward, the local stock market will be very much affected by external factors such as the economy of China and the movement of oil price," Wong said via telephone.

Today, Bursa Malaysia saw 1.59 billion shares worth RM1.73 billion traded. Gainers beat decliners at 426 against 382.

Nestle (M) Bhd led decliners while Panasonic Manufacturing Malaysia Bhd was the top gainer. The top-active counter was Sanichi Technology Bhd.