KUALA LUMPUR (May 5): The FBM KLCI opened lower this morning as regional markets continued to remain weak, in line with the overnight fall at most global markets.

At 9am, the FBM KLCI fell 5.30 points to 1,652.28.

The top losers included Petronas Gas Bhd, Public Bank Bhd, Hong Leong Bank Bhd, Lafarge Malaysia Bhd, Telekom Malaysia Bhd, Petronas Dagangan Bhd, Alliance Financial Group Bhd, Malaysia Airport Holdings Bhd and KPJ Healthcare Bhd.

Asian shares slipped for a seventh straight session on Thursday as a mixed batch of U.S. economic data did nothing to assuage concerns about global growth and deflation, keeping sovereign bonds well supported, according to Reuters.

Activity was sparse with Japan still on holiday and many investors taking cover ahead of the U.S. jobs report on Friday, it said.

JF Apex Securities Research in a market preview today said that US markets declined overnight following lower energy counters and mixed economic data on manufacturing and employment.

It said that earlier, European stocks tumbled following disappointment in corporate earnings and decline in mining counters.

“On the local market, the FBM KLCI gained 6.14 points to 1657.58 points after rebounding from an intra-day low of 1636.05 points to buck regional trend.

“Following the bearish global markets, the FBM KLCI is expected to remain lackluster with support at 1620 points. Market direction could be influenced by China's services PMI and Australia's trade data,” it said.