KUALA LUMPUR (Aug 22): The FBM KLCI started off on lacklustre note this morning in line with the slip at most regional markets.

At 9.01am, the FBM KLCI fell 4.64 points to 1,683.04.

The top losers included Kuala Lumpur Kepong Bhd, Lii Hen Industries Bhd, Malaysia Airports Holdings Bhd, Fraser & neave Holdings Bdh, Public Bank Bhd, DKSH Holdings (M) Bhd, Ajiya Bhd and Lafarge Malaysia Bhd.

Asian shares slipped on Monday and the dollar pulled away from last week's lows on expectations that a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming that the U.S. central bank is gearing up to hike interest rates, according to Reuters.

Global central bankers will join the annual mountain retreat that opens on Thursday, with Fed Chair Janet Yellen due to speak the following day, it said.

JF Apex Securities Research in a markte preview today said US markets declined on Friday led by utility counters after a hawkish statement from the Federal Reserve.

It said that similarly, European stocks dropped following sharp declines in banking and mining companies.

“On the local market, the FBM KLCI dropped 7.19 points to 1687.68 points.
“Following the bearish performance in the US and Europe, the FBM KLCI could extend its pull back from the 1700-point level last week,” it said.