KUALA LUMPUR (Nov 8): The FBM KLCI erased most of its losses in the morning session but remained below the 1,750-point level, as sellers outpaced buyers.

At 12.30pm, the FBM KLCI was down 1.90 points to 1,749.04. The index had earlier dipped to its intra-morning low of 1,745.89.

Losers led gainers by 318 to 240, while 532 counters traded unchanged. Volume was 1.15 billion shares, valued at RM806.09 million.

The top losers included Petronas Gas Bhd, Panasonic Manufacturing Malaysia Bhd, Hong Leong Financial Group Bhd, Chin Teck Plantations Bhd, Aeon Credit Service (M) Bhd, Petronas Dagangan Bhd, Malaysian Pacific Industries Bhd, Heineken Malaysia Bhd and Genting Malaysia Bhd.

The actives included Hubline Bhd, PUC Bhd, Berjaya Corp Bhd, Ekovest Bhd, Diversified Gateway Solutions Bhd, Sumatec Resources Bhd and DGB Asia Bhd.

The gainers included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, KESM Industries Bhd, Apex Healthcare Bhd, Kossan Rubber Industries Bhd, Hartalega Holdings Bhd, AirAsia Bhd, Harrisons Holdings (M) Bhd, Ann Joo Resources Bhd and Westports Holdings Bhd.

Asian shares eked out another decade peak on Wednesday, as data showed China's demand for imports remained buoyant, while the dollar dipped amid concerns Republican plans for major U.S. tax cuts were running into headwinds, according to Reuters.

Beijing reported imports in October rose 17.2% from a year earlier, beating forecasts of 16%, but export growth was just under estimates at 6.9%, it said.

Hong Leong IB Research in a traders’ brief said in the U.S., the cautious tone remains in the markets, amid the ongoing reporting season, as any result disappointment may attract selling pressure as the major indexes are located at the all-time-high zone.

“Nevertheless, we think certain merger deals and tax overhaul hopes will be able to lift investors’ confidence.

“Meanwhile, the return of buying support from foreign funds may spur further buying interest on selected heavyweights.

“However, without fresh catalysts in the stock market, broader market within the small cap space may stay muted. Nevertheless, we opine that the trading interest may linger within the O&G sector, with the Brent crude oil hovering above US$63,” the research house said.