KUALA LUMPUR (Sept 10): The FBM KLCI opened lower this morning in line with the retreat at most regional markets as profit taking took its toll on the local market

At 9am, the FBM KLCI lost 11.20 points to 1,592.16.

The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, Hong Leong Bank Bhd, Public Bank Bhd, Hong Leong Financial Group Bhd, Malayan Banking Bhd, RHB Capital Bhd, Petronas Chemicals Group Bhd and Tenaga Nasional Bhd.

Asian stocks fell on Thursday after U.S. stocks retreated overnight and as Japan machinery orders unexpectedly shrank, deflating investors' appetite for riskier assets, according to Reuters.

Concerns about slowing global growth also weighed on sentiment, with the New Zealand dollar tumbling after its central bank cut interest rates and signalled it may ease further, citing weakening demand and uncertainty over policy in the United States and China, it said.

JF Apex Securities Research in a market preview today said US markets tumbled over 1% following lower oil prices.

Meanwhile, it said European stocks surrendered earlier gains but still manage to close in positive territory.

“On the local market, the FBM KLCI surged 16.24 points to 1603.36 points.

“Following the decline in Wall Street, we are cautious that investors might take profit from the KLCI's gains so far this week.

“The benchmark index could trade lower with support at 1550 points,” it said.