KUALA LUMPUR (Nov 17): The FBM KLCI tracked Asian market losses after news of Japan's recession dented investor sentiment.

At 12.30pm, the KLCI fell 2.57 points or 0.1% to settle at 1,811.22 points. The KLCI had declined on losses in stocks like Petronas Dagagan Bhd and Genting Bhd.

Across Asia, Japan's Nikkei 225 fell 2.3% while South Korea's Kospi declined 0.2%. Singapore's Straits Times was 0.56% lower.

"The GDP (gross domestic product) data (in Japan) was so unexpectedly weak and clouded many prospects taken for a given," Praevidential Strategy Market Strategist Masafumi Yamamoto was quoted by Reuters as saying.

Japan reported today a 1.6% on-year decline in third quarter GDP. This followed a revised 7.3% contraction in second quarter GDP.

In Malaysia, Bursa Malaysia saw some 675 million shares valued at RM522 million traded. There were 266 gainers versus 349 decliners.

Far East Holdings Bhd was the top gainer while British American Tobacco (M) Bhd led decliners.

Muhibbah Engineering (M) was the most active stock.

Reuters reported that Japanese stocks skidded on Monday, helping the yen rebound from a fresh seven-year low against the dollar touched after news Japan unexpectedly fell into recession in the third quarter.

Meanwhile, Shanghai and Hong Kong opened around 1 percent higher but quickly erased gains on suspected profit-taking by traders who had positioned for the launch of the Stock Connect scheme that will let Hong Kong and Shanghai investors buy and sell shares on each other's bourses.