KUALA LUMPUR: Blue chips came under selling pressure with most of the 30 stocks in the FBM KLCI in the red due to fresh political worries and ahead of the overnight policy rate (OPR) decision this afternoon.

       At 10.01am, the FBM KLCI fell 14.34 points or 0.94% to 1, 515.81 which is a new low for this year. Turnover was 1.45 billion shares valued at RM767.60mil. Decliners beat advancers mor than four to one or 634 to 124 while 297 counters were unchanged.

       Bloomberg reported most Asian stocks slipped Thursday following gains for U.S. shares and Treasuries, as Federal Reserve minutes showed policy makers awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases.

       Equities dipped in Japan, where another virus state of emergency for Tokyo looks imminent. Hong Kong and China opened lower. U.S. futures fluctuated after the S&P 500 and Nasdaq 100 both closed at all-time highs.

       On the political scene, Umno officially decided to withdraw support from the Perikatan Nasional government with immediate effect, Datuk Seri Ahmad Zahid Hamidi said late Wednesday.

       The announcement by Ahmad Zahid came hours after a virtual Umno supreme council meeting that began at 8.30pm on Wednesday (July 7) and stretched till the early hours of Thursday (July 8).

       Meanwhile, Bank Negara is expected to retain the OPR at 1.75% during its monetary policy committee meeting.

       Among the decliners, Petronas Dagangan fell the most, down 30 sen to RM18.54, PPB Group 18 sen to RM18.30, KL Kepong 15 sen to RM19.94, MrDIY 15 sen also to RM3.62, HLFG 14 sen to RM18.04, CIMB 10 sen to RM4.50, Press Metal nine sen to RM4.95 and PChem eight sen to RM8.01

       Other decliners were Maybank and Sime Darby two sen each to RM8.04 and RM2.17 while Tenaga lost four sen to RM9.67. However, Hartalega added two sen to RM7.08