KUALA LUMPUR (Nov 11): The FBM KLCI fell 2.06 points or 0.13% at Bursa Malaysia' afternoon break today in line with weakness across regional markets amid fresh violence in Hong Kong and as investors evaluated the status of US-China trade talks.

At Bursa, the KLCI settled at 1,607.67 at 12:30pm after falling to its intraday low of 1,604.24 this morning. From a technical viewpoint, analysts said the KLCI's drop is expected as the index appeared overbought.

"Although positive tone was noted over the past weeks on the KLCI, we expect some slowdown in upward move over the near term, given the overbought signals on the key index as well as cautious tone ahead of the release of Malaysia's third quarter 2019 GDP (announcement) this Friday," Hong Leong Investment Bank Bhd head of retail research Loui Low wrote in a note.

Across Bursa today, turnover recorded was 1.43 billion shares valued at RM698.86 million. Top decliners included Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd, PPB Group Bhd and Petronas Dagangan Bhd.

Globally, Reuters reported that Asian shares reversed gains on Monday, the yen ticked higher and gold jumped as fresh violence broke out in Hong Kong, while uncertainty still remained over whether the US and China could end their damaging trade war.

It was reported that Hong Kong's Hang Seng index led the losses in Asia, down more than 1%, after police fired live rounds at protestors on the eastern side of Hong Kong island. Cable TV and other Hong Kong media reported at least one protester being wounded while video footage showed a protester lying in a pool of blood.

"The China-US trade war and the Hong Kong protest are combining to cast a negative pall on Asian markets today," James McGlew, analyst at stockbroking firm Argonaut, was quoted as saying.

"Hong Kong protests have been dragging on for a while and the view from the financial world is that it's really starting to bite now. The further this drags on it's certainly going to be very negative," McGlew said.