KUALA LUMPUR, May 23 — The barometer of the Malaysian market, the FBM KLCI fell sharply this morning in line with regional markets on geopolitical concerns.

"The markets are jittery as President Trump has just announced that the summit with Kim Jong Un may not take place and the markets are factoring in this news. This is causing the selldown in the markets,” Phua Lee Kerk chief strategist at Phillip Capital told Malay Mail.

At 10.50am the index fell by 27 points or 1.47 per cent to settle at 1,817 points.

Singapore’s Straits Times Index was down by 36.9 poins or 1 .04 per cent while Hong Kong’s Hang Seng Index retraced by 281 points at 22,712 points or 1.08 per cent.

Meanwhile, Nikkei of Japan was down by 247 points or 1.08 per cent to settle at 22,712 points.

Among the notable movement of share prices this morning was CIMB which slid by 32 sen or 4.8 per cent at RM6.33. Air Asia was up by 3 sen to settle at RM3.31.Bursa Malaysia was down by 17 sen or 2.13 per cent at RM7.82.

The country’s biggest lender, Maybank was down marginally by 2 sen at RM10.86.

The recently battered down stocks of MyEG and George Kent were down 1 sen at 92.5 sen and 11 sen at RM1.50 respectively.