KUALA LUMPUR: Blue chips skidded in early trade on Friday, Jan 29 as investors retreated after the weak overnight close on Wall Street where the key indices fell between 1.1% and 1.9%.

At 9.02am, the FBM KLCI was down 6.64 points to 1,257.87. Turnover was 14.51 million shares valued at RM12.22 million. There were 25 gainers and 145 losers while 56 stocks were unchanged.

Hwang DBS Vickers Research said wiith the bears still at large on Wall Street  the negative vibes would inevitably be felt across Asia ahead.

"Essentially, investors are concerned whether the party is already over (in view of talks of rising interest rates and early withdrawal of stimulus packages around the world), which in turn prompted them to react by taking profits first.

"Back home, the benchmark FBM KLCI is expected to come under renewed selling pressures today, probably looking to test the support line of 1,255. If this gives way, then the next support mark on the chart is seen at 1,230," it said.

CIMB fell 12 sen to RM12.62 and EON Cap 10 sen to RM6.85 while among glove makers, Supermax lost 12 sen to RM4.85, Latexx nine sen to RM3.70 and Top Glove six sen to RM10.94.

Among plantations, IOI Corp fell nine sen to RM5.11 and Sime Darby six sen to RM8.60.