KUALA LUMPUR (Jan 20): The FBM KLCI dipped at the opening bell in line with the struggling regional markets as key blue chips retreated.

At 9am, the FBM KLCI shed 1.06 points to 1,628.16.

The top losers in early trade included Shanri-La Hotels (Malaysia) Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd, Petron Malaysia Refining & Marketing Bhd, UMW Holdings Bhd and SapuraKencana Petroleum Bhd.

Asian share markets slipped early Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite, according to Reuters.

U.S. crude wallowed at its lowest since 2003 after the world's energy watchdog warned the market could "drown in oversupply". U.S. crude futures shed another 49 cents to a new trough at $27.97 in early trade, while Brent crude was quoted at $28.76 a barrel, it said.

JF Apex Securities Research said in a market preview today said US stocks closed marginally higher yesterday amid lower crude oil prices whilst European markets ended strongly with major indices ended up over 1 percent as mining and energy counters getting a boost from the Chinese economic data.

“We expect the Asian bourses to open higher today after the Chinese central bank said that it would inject more than 600 billion Yuan before Lunar New Year to help to ease a liquidity shrink.

“Thus, we expect the FBM KLCI to perform positively today despite lingering concern on sluggish crude oil prices,” it said.