KUALA LUMPUR (April 1): The FBM KLCI started off April on a weaker note and fell 0.97% in early trade in line with mostly lower regional markets, dragged by index-linked stocks including Petronas counters and plantations stocks.

At 9,05am, the FBM KLCI fell 12.99 points to 1,337.90.

The early decliners included Dutch Lady Milk Industries Bhd, Carlsberg Brewery Malaysia Bhd, KESM Industries Bhd, Kuala Lumpur Kepong Bhd, Petronas Chemicals Group Bhd, PPB Group Bhd, Panasonic Manufacturing Malaysia Bhd, Hong Leong Financial Group Bhd and Petronas Gas Bhd.

Bloomberg said U.S. stock futures declined as investors assessed worsening American coronavirus figures as a new quarter begins. Asian shares opened mostly lower.

Futures on the S&P 500 Index were down more than 1% after President Donald Trump warned of a “painful” two weeks ahead, with the country grappling to get the outbreak under control. Cases in New York state surged by 9,000. Shares in Japan and South Korea fell, while Australia’s bucked the trend. Futures in Hong Kong retreated. In China, a private reading on the country’s manufacturing sector is expected to show a rebound for March. Treasuries and the yen held recent gains, it said.

JF Apex Securities Research said US market declined overnight after the government expects 100,000 to 240,000 deaths from the coronavirus.

It said that earlier, European stocks climbed after China's manufacturing PMI for March was better than expected.

“On the local market, the FBM KLCI rose 22.01 points to 1350.89 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could take a breather from its rebound and hover below the resistance of 1370 points,” it said.