KUALA LUMPUR (May 4): The FBM KLCI fell 0.35% at mid-morning today as market volume remained muted ahead of the weekend.

At 10.05am, the FBM KLCI fell 6.49 points to 1,845.31.

Losers led gainers by 310 to 153, while 236 counters traded unchanged. Volume was 344.70 million shares valued at RM193.69 million.

The top losers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Ibraco Bhd, Hong Leong Financial Group Bhd, Latitude Tree Holdings Bhd, Carlsberg Brewery Malaysia Bhd, KESM Industries Bhd, Public Bank Bhd and British American Tobacco (M) Bhd.

The actives included Sapura Energy Bhd, Nexgram Holdings Bhd, Borneo Oil Bhd and Bursa Malaysia-listed Hang Seng Index-linked put warrants.

The gainers included Chin Teck Plantations Bhd, United Plantations Bhd, Allianz Malaysia Bhd, Petronas Dagangan Bhd, Spritzer Bhd, LPI Capital Bhd, UMW Holdings and Pansar Bhd.

Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming U.S. payrolls data for fresh catalysts, according to Reuters.

Investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation, it said.

Hong Leong IB Research in a traders’ brief said that moving forward, investors will be paying attention on US-China trade talks developments, Fed’s interest rates outlook, 10-year Treasury yield as well as the nuclear agreement with Iran.

“Any of these events that could be giving negative surprises may send volatility to the global markets.

“On our local front, we expect most of the market participants to be on a risk-off mode, deploying a wait-and-see strategy ahead of the GE14.

“We think market volumes will stay tepid over the near term. Nevertheless, short term opportunity may arise within export counters on the back of weaker ringgit over the past two weeks,” it said.