KUALA LUMPUR (April 18): The FBM KLCI slipped below the 1,720-point level at mid-morning today in line with the dip at most regional markets.

At 10am, the FBM KLCI lost 10.10 points to 1,717.89.

The top losers included British American Tobacco (Malaysia) Bhd, Kuala Lumpur Kepong Bhd, KLCC Property Holdings Bhd, Malaysia Airports Holdings Bhd, Petronas Dagangan Bhd, Lafarge Malaysia Bhd, UMW Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Petronas Gas Bhd and Uzma Bhd.

The actives included AirAsia X Bhd, EKA Noodles Bhd, APFT Bhd, AirAsia Bhd, Vivocom Intl Holdings Bhd, Sumatec Resources Bhd, AHB Holdings Bhd and Bumi Armada Bhd.

The gainers included Ajinomoto Malaysia Bhd, Hong Leong Industries Bhd, Kian Joo Can Factory Bhd, Kossan Rubber Industries Bhd, KKB Engineering Bhd, Caring Pharmacy Group Bhd and Focus Lumber Bhd.

Asian shares dropped on Monday, dragged down by tumbling crude oil futures after producers' weekend talks failed to address the global supply glut, according to Reuters.

Some 18 oil exporting nations had gathered in the Qatari capital of Doha to try to agree to stabilise output at January levels until October 2016. The pact fell apart after Saudi Arabia demanded that Iran join in, it said.

Hong Leong IB Research said that this week, the key benchmark index is likely to trend cautiously towards its weekly expected trading range of between 1,700 and 1,730 ahead of the Federal Open Market Committee meeting on April 26–27 and after oil-freeze talks ended in failure.

"We expect to see a gap down in the local key index today on anticipation of slump in oil prices. Hence, O&G (oil and gas) counters are expected to weaken in view of the above.

"On the other hand, the recent series of earthquakes in Japan and Ecuador may generate buying interest on building material stocks especially export-oriented timber and particle board companies," it said.