KUALA LUMPUR (Aug 21): The FBM KLCI lost 0.88% in early trade as regional markets slid following the overnight slump at most global markets.

At 9am, the FBM KLCI fell 13.76 points to 1,563.65.

The top losers included Malayan Banking Bhd, Lafarge Malaysia Bhd, Public Bank Bhd, Tenaga Nasional Bhd, LPI Capital Bhd, Vitrox Corporation Bhd, Genting Bhd, Time Dotcom Bhd, Focus Lumber Bhd, Oriental Food Industries Bhd, Cahya Mata Sarawak Bhd and Unisem (M) Bhd.

Asian stocks fell early on Friday, following Wall Street, as fears took hold of a China-led deceleration in global growth, according to Reuters.

The dollar continued retreating on shrinking expectations of an U.S. interest rate hike in September, it said.

JF Apex Securities Research in a markte preview said US markets tumbled overnight with the S&P erasing its gains for the year following concerns on timing of interest rate hike and slower global growth lead by China.

Similarly, it said European equities plunged on concerns over oil price, Greece and China.

“Back home, the FBM KLCI lost 5.03 points to 1577.41 points.

“Following the bearish performance in the US and Europe, we expect the KLCI to be negative today and possibly testing its support levels of 1560 and 1545 points,” it said.