KUALA LUMPUR (May 6): The FBM KLCI lost 0.66% at mid-morning today, tracking the fall at regional markets.

At 10am, the FBM KLCI lost 10.80 points to 1,626.50.

Losers led gainers by 534 to 107, while 224 counters traded unchanged. Volume was 860.93 million shares valued at RM388.15 million.

The losers included Carlsberg Brewery Malaysia Bhd, Tasek Corp Bhd, Tenaga Nasional Bhd, Heineken Malaysia Bhd, British American Tobacco (M) Bhd and put warrants with Hong Kong's Hang Seng index as its underlying index.

The actives included Ekovest Bhd, Dynaciate Group Bhd, Bumi Armada Bhd, Iris Corp Bhd, Iskandar Waterfront City Bhd and PUC Bhd.

The gainers included Nestle (M) Bhd, United Plantations Bhd and Rexit Bhd.

Asian equities tumbled, oil prices plunged and the safe-haven yen strengthened early on Monday as trade negotiations between China and the United States deteriorated suddenly, reversing apparent progress made in recent months, according to Reuters.

US President Donald Trump sharply escalated trade tensions between the world's two largest economies with tweeted comments on Sunday that talks toward a trade deal with China were proceeding "too slowly", and that he would raise tariffs on US$200 billion of goods to 25% on Friday from 10%, it said.

Kenanga IB Research said Asian markets ended mixed last Friday as the US Federal Reserve diminished hopes for an interest-rate cut coupled with progress made in the latest round of trade talk.

It said stepping into May, the FBM KLCI gained 5.60 points or 0.31% to end at 1,637.30, bringing week-on-week loss to 6.59%.

"Short-term consolidation could be the case for this week trading, given momentum indicators still displaying some weaknesses as seen in the flat-lining of MACD (moving average convergence divergence) and RSI (relative strength index).

"A decisive take-down of the 1,660 (R1) is vital for the local index to trend upwards towards 1,700 (R2)," it said.