KUALA LUMPUR (Aug 20): The FBM KLCI opened lower today in line with the regional markets, and stayed on course to stay below the crucial 1,600-point level.

At 9am, the FBM KLCI lost 7.93 points to 1,574.51.

The top losers included MSM Malaysia Holdings Bhd, Carlsberg Brewery (M) Holdings Bhd, Lafarge Malaysia Bhd, Tenaga Nasional Bhd, Top Glove Corporation Bhd, Cycle & Carriage Bintang Bhd, Coastal Contracts Bhd, Hartalege Holdings Bhd, Maxis Bhd and Syarikat Takaful Malaysia Bhd.

Concerns about slowing growth in China pressured Asian shares and oil prices, while minutes from the US Federal Reserve's July meeting dented expectations for a rate hike in mid-September, according to Reuters.

Japan's Nikkei fell 0.3% in early trade while MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, barely holding above its two-year low hit on Wednesday for now, it said.

JF Apex Securities Research in a market preview today said US markets dropped after the Federal Reserve released its minutes of meeting and oil price declined to fresh lows.

Similarly, it said European equities tumbled following the Fed's minutes of its July meeting, lower oil price and volatile trading in the Chinese stock market.

“On the local market, the FBM KLCI added 2.84 points to close at 1,582.44 points yesterday buoyed by local funds amid continuous foreign selling.

“We expect the negative sentiment in global markets to weigh on the KLCI with immediate support at 1,545 points.

“The prevailing weaknesses in ringgit and crude oil prices will continue to affect the market sentiment,” it said.