KUALA LUMPUR (Feb 29): The FBM KLCI fell 8.69 points or 0.5%, pressured by weaker Asian share market sentiment. Regional shares fell on China economic growth concerns and anticipation of US policy makers raising interest rates further.

At 5pm, the KLCI closed at 1,654.75. Across Asia, Japan’s Nikkei 225 dropped 1%, Hong Kong Hang Seng Index fell 1.3%, while South Korea Kospi retreated 0.18%.

Reuters reported Asian stocks retreated on Monday, after a weekend meeting of G20 policymakers ended with no new coordinated action to spur global growth and as solid US data revived expectation of the Federal Reserve further raising rates before year-end.

In Malaysia, JF Apex Securities Bhd head of research Lee Chung Cheng told theedgemarkets.com that "the weak market sentiment could be driven by concerns on slow economic growth in emerging markets, particularly China."

Across Bursa Malaysia, there were 306 gainers versus 599 decliners. Trading volume was 1.69 billion shares, worth RM2.31 billion.

Top gainer was Panasonic Manufacturing Malaysia Bhd, while the biggest decliner was Petron Malaysia Refining & Marketing Bhd.

AirAsia Bhd was the most actively-traded counter.