KUALA LUMPUR (April 29): The FBM KLCI dipped at mid-morning weighed by select blue chips in line with the pause at most regional markets.

At 10am, the FBM KLCI dipped 3.45 points to 1,851.61.

The top losers included PPB Group Bhd, Kuala Lumpur Kepong Bhd, Dutch Lady Milk Industries Bhd, Public Bank Bhd, VS Industry Bhd, Guiness Anchor Bhd, Unisem (M) Bhd, Apollo Holdings Bhd and My E.G Services Bhd.

The actively traded counters included Frontken Corporation Bhd, Vsolar Group Bhd, Asia Bio Technologies Bhd, Nova MSC Bhd, Tanco Bhd and Icon Offshore Bhd.

The gainers meanwhile included Batu Kawan Bhd, British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, Pestech International Bhd and Petronas Dagangan Bhd.

Asian share markets paused near seven-year peaks on Wednesday while investors exited crowded positions in the U.S. dollar as the Federal Reserve wraps up a two-day policy meeting, according to Reuters.

The broad retreat in the U.S. currency came as a string of soft data seemed to push back the day when the Fed might start lifting rates, and defied a jump in Treasury yields, it said.

Hong Leong IB Research said that after recording a six consecutively weekly gain, profit-taking interest dampened blue chips since the beginning of the week and spilled over to the broader market, as the FBM KLCI retraced from a near seven-month high of 1867.5 on April 28 to close at 1855.1 yesterday, before approaching the seasonally volatile month in May.

“Key resistances are 1878-1896 while supports fall on 1830-1847,” it said.