KUALA LUMPUR (Aug 11): The FBM KLCI fell 0.44% at mid-morning today and slipped to below the 1,770-point level in tandem with the slump at most regional markets.

At 9.55am, the FBM KLCI lost 7.78 points to 1,769.99.

The top losers included Malaysian Pacific Industries Bhd, Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, KESM Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, Ajinomoto (M) Bhd and Malaysia Airports Holdings Bhd.

The actives included Dagang NeXchange Bhd, Vivocom Intl Holdings Bhd, Anzo Holdings Bhd, Frontken Corp Bhd, Compugates Holdings Bhd, Hibiscus Petroleum Bhd, Ho Wah Genting Bhd and PUC Founder (MSC) Bhd.

The gainers included Petronas Dagangan Bhd, Batu Kawan Bhd, Aluminium Company of Malaysia Bhd, Ge-Shen Corporation Bhd, Encorp Bhd and Protasco Bhd.

Asian stocks slumped on Friday as tensions ramped up between the U.S. and North Korea, sending investors fleeing to less risky assets such as gold, the yen and U.S. government bonds, according to Reuters.

South Korea's KOSPI fell 1.4 percent, taking its losses this week to nearly 3 percent, it said.

Hong Leong IB Research in a traders’ brief said following the growing tension between the US and North Korea, it anticipates that the bearish tone may spillover to the local front and stocks on the broader market may follow suit on the selling pressure.

“Mid-term pullback trend may emerge as broad base selloffs were noted on Bursa Malaysia. The FKLI violated below 1,780, forming a potential inverted hammer for the week – indicating a potential reversal formation.

“Nevertheless, the Stochastics oscillator is suggesting that the FKLI is oversold in the shorter time frame (30-min) chart. Should there be a sharp opening today near the 1,760-1,765, we may expect a short-lived technical rebound towards 1,770-1,775,” it said.