KUALA LUMPUR (Jan 22): The FBM KLCI pared some of its gains at mid-morning today in line with the cautious regional markets, following the US government shutdown last Friday and the stalemate in the ensuing talks between Republicans and Democrats.

At 10am, the FBM KLCI was up 1.15 points to 1,830.34. The index had earlier risen to a high of 1,835.21.

Gainers led losers at 315 to 282, while 359 counters traded unchanged. Volume was 1.19 billion shares valued at RM446.63 million.

The gainers included Hengyuan Refining Company Bhd, Dutch Lady Milk Industries Bhd, Hong Leong Bank Bhd, Genting Plantations Bhd, Petronas Dagangan Bhd, Halex Holdings Bhd and Aeon Credit Service (M) Bhd.

The actives included D.B.E. Gurney Resources Bhd, Sumatec Resources Bhd, PUC Bhd, Sino Hua-An International Bhd, Sapura Energy Bhd, Hubline Bhd, UMW Oil & Gas Corp Bhd and UCrest Bhd.

The losers included British American Tobacco (M) Bhd, KESM Industries Bhd, Ajinomoto (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Petronas Gas Bhd, Kuala Lumpur Kepong Bhd, Nestle (M) Bhd and Hong Leong Industries Bhd.

Financial markets in the United States and Asian stocks took a knock early on Monday after the US government was forced to shut down amid a dispute between President Donald Trump and Democrats over immigration, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2% while Japan's Nikkei was down 0.1%, it said.

Hong Leong IB Research in a traders' brief said that in the US, Trump and the Republicans were not able to pass the stopgap measure, contributing to a government shutdown.

"Although the political turmoil could be clouding the sentiments over the near term, consensus expects nothing major would disrupt the financial markets as it is likely to be a short-lived event.

"Following the news on the US government shutdown, we may expect mild jitters on the market.

"However, we think the downside will be well [absorbed] ahead of the February reporting season in the anticipation of a better 4Q results. If the KLCI is holding well above 1,800, the key index may retest 1,840," it said.