KUALA LUMPUR (Dec 13): The FBM KLCI pared some of its losses at mid-morning as Genting-related stocks lent some support.

At 10am, the FBM KLCI was down 0.41 points to 1,729.16. The index had earlier fallen to a low of 1,725.95.

Gainers led losers at 289 to 234, while 264 counters traded unchanged. Volume was 623.62 million shares valued at RM298.79 million.

The top losers included Magni-Tech Industries Bhd, Petron Malaysia Refining & Marketing Bhd, British American Tobacco (M) Bhd, Atlan Holdings Bhd, Gamuda Bhd and Press Metal Aluminium Holdings Bhd shares and warrants.

The actives included PUC Bhd, DGB Asia Bhd, Diversified Gateway Solutions Bhd, Dagang NeXchange Bhd, Sapura Energy Bhd, Frontken Corp Bhd and Malayan United Industries Bhd.

The gainers included ViTrox Corp Bhd, Panasonic Manufacturing Malaysia Bhd, Fraser & Neave Holdings Bhd, Nestle (M) Bhd, Genting Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Top Glove Corp Bhd, SHH Resources Holdings Bhd and Genting Bhd.

Asian shares were treading water in early trade on Wednesday as crude oil futures steadied after a selloff, while a widely expected interest rate hike from the Federal Reserve underpinned the US dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was a few ticks higher in early trade, it said.

Hong Leong IB Research in a traders' brief said that in the US, the positive development on the tax reform and potential interest rates hike in the upcoming FOMC meeting will contribute to a positive tone in the stock markets.

"Also, we opine that the Dow is on an uptrend intact position and could challenge the 24,650 level over the near term.

"Similarly, sentiments on the local front have been turning more bullish with the inflows of foreign funds.

"Hence, we think the buying interest and window-dressing activities could lift the KLCI higher after the breakout yesterday. Oil and gas stocks may attract interests as the Brent crude oil prices [were] trading near the US$64 level," it said.