KUALA LUMPUR (May 9): The FBM KLCI lost 0.6% at mid-morning today, tracking the fall at regional markets spooked by US-China trade tensions.

At 10am, the FBM KLCI lost 9.76 points to 1,623.79.

Losers led gainers by 278 to 174, while 253 counters traded unchanged. Volume was 493.56 million shares valued at RM233.43 million.

The top losers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Tasek Corp Bhd, Petronas Dagangan Bhd, QL Resources Bhd, Hartalega Holdings Bhd, Public Bank Bhd and Malaysia Airports Holdings Bhd.

The actives included Daya Materials Bhd, Impiana Hotels Bhd, Iris Corp Bhd, Lambo Group Bhd, Ekovest Bhd and Lay Hong Bhd.

The gainers included Malaysia-listed Hang Seng Index-linked put warrants, SAM Engineering & Equipment (M) Bhd, Bursa Malaysia Bhd, Syarikat Takaful Malaysia Keluarga Bhd and Frontken Corp Bhd.

Asian shares hit six-week lows in early trade on Thursday as increased tensions ahead of key Sino-US trade negotiations fanned fresh concerns about the outlook for the global economy, according to Reuters.

Investor focus has zeroed in on trade issues this week with Chinese Vice Premier Liu He expected to try to salvage a deal during negotiations with the United States in Washington on Thursday and Friday. That would avoid a sharp increase in tariffs on Chinese goods scheduled to take effect on Friday, it said.

Hong Leong IB Research said in the US, it expects the market sentiment to stay on the sidelines, trending in the sideways consolidation phase ahead of the conclusion of the upcoming US-China trade talks, led by Liu.

"Should there be any negative surprises from the discussion, we opine further volatile moves could be seen on major indexes on Wall Street over the near term. The Dow's resistance is envisaged around 26,300-26,952.

"Despite Wall Street trending lower for another session (smaller decline as compared to previous two trading days), we believe bargain-hunting activities may emerge on the KLCI, given the formation of a few bullish candlesticks (three hammers and one bullish engulfing) over the past four trading days.

"Nevertheless, upside may be limited awaiting more clarity from the US-China trade discussions by Friday. The FBM KLCI's support located around 1,610-1,623," it said.