KUALA LUMPUR (Sept 18): The FBM KLCI pared some of its losses at mid-morning today and attempted to claw back to the 1,800-point level.

At 10am, the FBM KLCI was down 8.80 points to 1,794.96.The index had earlier slipped to a low of 1,788.52.

Losers led gainers by 390 to 140, while 200 counters traded unchanged. Volume was 495.22 million shares valued at RM297.80 million.

The top losers included Ajinomoto (M) Bhd, Padini Holdings Bhd, Carlsberg Brewery Malaysia Bhd, Top Glove Corp Bhd. CIMB Group Holdings Bdh, British American Tobacco (M) Bhd, Atlan Holdings Bhd, KESM Industries Bhd and LPI Capital Bhd.

The actives included Sapura Energy Bhd, Priceworth International Bhd, My EG Services Bhd, Nova MSC Bhd and QES Group Bhd.

The gainers include Versatile Creative Group Bhd, MI Equipment Holdings Bhd, Aeon Credit Service (M) Bhd, Nestle (M) Bhd and Malaysia-listed Hang Seng Index-linked put warrants.

U.S. stock futures dropped and Asian shares are expected to come under renewed pressure on Tuesday after Trump said he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports, according to Reuters.

While he spared smart watches from Apple and some other consumer products such as bicycle helmets, he warned that if China takes retaliatory action he we will pursue another tariffs on approximately $267 billion of goods, it said.

Hong Leong IB Research in a traders’ brief said it expects the trade tensions to persist over the near term as President Trump remains stern and bold on his statements on the trade issues.

“Hence, we anticipate that Wall Street could go into a consolidation phase with heightened volatility moving forward.

“Also, corporates that have heavy business exposure in China may get hit should there be any further implementations of trade tariffs,” it said.

On the local market, it said negative sentiment from Wall Street and the trade concerns may spillover towards stocks on the local front and the FBM KLCI may continue to trade within the range between 1,777-1,828.

“Nevertheless, the positive inflows over the past two trading days may cushion the downside risk over the near term.

“Also, traders may focus on export-oriented and O&G related stocks amid weaker ringgit tone and firmer crude oil prices,” it said.