KUALA LUMPUR: Blue chips started Monday on a weak note as the FBM KLCI fell more than eight points, dragged down by losses in Petronas-linked stocks, telcos and Sime Darby as expectations were more turbulence ahead.
At 9.01am, the KLCI was down 8.17 points or 0.5% to 1,633.05. Turnover was 32.13 million shares valued at RM18.28mil. There were 60 gainers, 79 losers and 150 counters unchanged.
Reuters reported Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week's central bank meetings as well as Britain's June 23 referendum on whether to remain in the European Union.
The U.S. Federal Reserve, Bank of England, Swiss National Bank and the Bank of Japan will all meet this week. All are expected to hold monetary policy steady against a backdrop of caution about the global economic outlook as well as the impact about a possible "Brexit."
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4% after skidding 1.2% in the previous session.
At Bursa Malaysia, the KLCI extended its losses for the third straight day as the key stocks fell in thin trade as investors were cautious following the downbeat external events and continued foreign selling.
BAT fell 40 sen to RM51, Petronas Gas was down 32 sen to RM21.24, Petronas Dagangan 22 sen to RM23.40 while SK Petro shed three sen to RM1.61.
Maxis lost 11 sen to RM5.64 and Axiata seven sen to RM5.53. Plantation-property heavyweight Sime Darby lost six sen to RM7.46.
CIMB and Genting Malaysia lost four sene ach to RM4.44 and RM4.41.
On a more positive note, property company MKH added nine sen to RM2.60 with just 100 shares done.
SAM Engineering rose five sen to RM7.50 and Hap Seng three sen to RM7.68.
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