KUALA LUMPUR (Nov 27): The FBM KLCI pared some of its losses in choppy trade at mid-morning on Thursday, in line with the better sentiment at most global markets.

At 10am, the FBM KLCI shed 0.37 points to 1,841.80. It had earlier dipped to a low of 1,834.99.

The top losers included British American Tobacco (M) Bhd, Nestle (M) Bhd, Telekom Malaysia Bhd, DKSH Bhd, Pintaras Holdings Bhd, Hong Leong Financial Group Bhd, Malayan Banking Bhd,Petronas Dagangan Bhd and LPI Capital Bhd.

Daya Materials Bhd was the most actively traded counter with 26.1 million shares done. The stock rose 4.65% or one sen to 22.5 sen.

The other actives included KNM Group Bhd, Nova MSC Bhd, Land & General Bhd, Tiger Synergy Bhd and Sumatec Resources Bhd.

The top gainers included United Plantations Bhd, Kuala Lumpur Kepong Bhd, Public Bank Bhd, Kian Joo Can Factory Bhd, Malaysia Airports Holdings Bhd, Malaysia Smelting Corporation Bhd and AMMB Holdings Bhd.

Regionally, Asian stocks inched higher on Thursday as the prospect of further stimulus from central banks in the region and Europe eclipsed disappointing U.S. data, which tripped up the dollar, according to Reuters.

Oil prices tumbled more than one percent to a four-year low as hopes for curbs in output by the OPEC faded, it said.

Hong Leong IB Research said a decisive breakout above 1850 would spur the index higher towards 1857 (daily upper Bollinger band) and 1865 (76.4% FR) levels.

“However, the FBM KLCI may experience some profit taking activities after climbing 33 pts in three days, reflected by the toppish hourly chart.

“Next supports are pegged at 1837 (20-d SMA), 1831 (50% FR) and 1822 (10-d SMA),” it said.