KUALA LUMPUR (March 8): The FBM KLCI shed 0.17% at mid-morning today, tracking losses at regional markets, weighed by Petronas-linked stocks.

At 10am, the FBM KLCI dipped 2.90 points to 1,684.05.

Losers led gainers by 286 to 205, while 275 counters traded unchanged. Volume was 631.40 million shares valued at RM367.47 million.

The decliners included Petronas Dagangan Bhd, Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Heineken Malaysia Bhd and Petronas Gas Bhd.

The actives included Prestariang Bhd, Dayang Enterprise Holdings Bhd, Sapura Energy Bhd, KNM Group Bhd, My EG Services Bhd, London Biscuits Bhd and Sasbadi Holdings Bhd.

The gainers included Dayang, KESM Industries Bhd, Lafarge Malaysia Bhd, Eng Kah Corp Bhd, QL Resources Bhd, Coastal Contracts Bhd, Hong Leong Industries Bhd and Petra Energy Bhd.

Asian stocks shuddered lower on Friday after the European Central Bank (ECB) slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy, according to Reuters.

ECB President Mario Draghi said the economy was in "a period of continued weakness and pervasive uncertainty" as he pushed out a planned rate hike and instead offered banks a new round of cheap loans, it said.

Hong Leong IB Research said that in the US, investors are still concern over the trade developments between the US and China, especially after Chinese tech giant Huawei has filed a lawsuit against the US.

"Also, the rising worries on the global economic slowdown following growth forecast cuts by ECB may pressure global equities at this juncture. Hence, we believe Wall Street may undergo another session of consolidation.

"On the local bourse, taking cues from the negative overnight Wall Street performance, we may anticipate further selling pressure on the broader market, capping the upside potential on the FBM KLCI.

"Nevertheless, with the news headlines hopeful on a potential revival of the ECRL at a lower cost, we remain positive on the building material and construction sectors at least over the near term after a severe down trend on both sectors after GE14," it said.