KLCI loses 0.27% in line with regional fall

-A +A

KUALA LUMPUR (Oct 9): The FBM KLCI retreated in early trade this morning and lost 0.27%, tracking regional markets.

At 9.05am, the FBM KLCI was down 4.24 points to 1,554.55.

The top losers included Petronas Dagangan Bhd, Carlsberg Brewery Malaysia Bhd, Nestle (M) Bhd, PPB Group Bhd, Heineken Malaysia Bhd, Time Dotcom Bhd, Malaysia Airports Holdings Bhd, Petronas Chemicals Group Bhd and British American Tobacco (M) Bhd.

Asian stocks fell the most in a week on Wednesday as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%. Japan's Nikkei slid 0.81%. Australian shares were down 0.92%, it said.

JF Apex Research said US markets tumbled overnight following concerns over the US-China trade negotiations. Similarly, European stocks declined over uncertainties of a US-China trade deal after the US blacklisted 28 Chinese companies.

“On the local market, the FBM KLCI was flat after shedding 0.21 points to 1,558.79 points.

“Following the negative performances in the US and Europe, the FBM KLCI could remain lackluster and hover sideways above the support of 1,550 points,” it said.