KUALA LUMPUR (March 9): The FBM KLCI opened lower this morning in line with the retreat at most global markets.

At 9am, the FBM KLCI fell 6.55 points to 1,681.31.

The top losers included Aeon Credit Services (M) Bhd, Petronas Gas Bhd, Petronas Dagangan Bhd, PPB Group Bhd, UEM Edgenta Bhd, Malaysia Airports Holdings Bhd, Axiata Group Bhd, Petronas Chemicals Group Bhd, MISC Bhd and Genting Bhd.

Asian shares stepped back further from two-month highs on Wednesday as a retreat in oil prices and weak Chinese trade data revived concerns about the health of the global economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early trade, shedding 1.4 percent from its two-month high hit on Monday. Japan's Nikkei fell 1.0 percent in morning trade, it said.

JF Apex Securities Research in a market preview today said US markets declined as the Dow and S&P ended their 5-day winning streak as oil prices fell and renewed concern on global economic growth after China's lower-than-expected trade data.

It said that similarly, European stocks dropped following decline in mining counters and oil prices.

“On the local market, the FBM KLCI lost 10.70 points to 1687.86 points.

“Due to the bearish overnight performance in the US and Europe, the performance of FBM KLCI is expected to be lackluster and trend lower with support at 1670 points,” it said.