KUALA LUMPUR (Nov 16): The FBM KLCI recovered some lost ground at mid-morning today and reversed its earlier loss, although the broader market sentiment remained weaker.

At 10am, the FBM KLCI rose 1.62 points to 1,724.61. The index had earlier slipped to a low of 1,720.36.

Losers led gainers by 304 to 179, while 359 counters traded unchanged.

The gainers included KESM Industries Bhd, Petronas Gas Bhd, Petron Malaysia Refining & Marketing Bhd, PMB Technology Bhd, Hengyuan Refining Company Bhd, Petronas Dagangan Bhd, Atlan Holdings Bhd, Tong Herr Resources Bhd, Kossan Rubber Industries Bhd and Hock Heng Stone Industries Bhd.

The actives included Asia Bioenergy Technologies Bhd, Ho Wah Genting Bhd, Diversified Gateway Solutions Bhd, APFT Bhd, Talam Transform Bhd, DGB Asia Bhd, Berjaya Corp Bhd, Sino Hua-Ann International Bhd, KNM Group Bhd and Hubline Bhd.

The decliners included Ajinomoto (M) Bhd, Heineken Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, APM Automotive Holdings Bhd, PPB Group Bhd, LPI Capital Bhd and Batu Kawan Bhd.

Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat US economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more US rate hikes, according to Reuters.

Concerns over the prospects for a massive US tax cut also showed no sign of abating as two Republican lawmakers on Wednesday criticised the Senate's latest proposal, it said.

Hong Leong IB Research in a traders' brief said in spite of the near-term worries about the delay of US tax cuts and a healthy pullback in crude oil prices, any downside in Dow is likely to be well supported for the time being amid positive economic prospects and corporate earnings outlook coupled with gradual interest rates hikes.

"Hence, the Dow may be trapped in range bound consolidation within 22.8k to 24k over the near term until more clarity on the tax overhaul details.

"On Bursa Malaysia, downside of the FBM KLCI could extend further after violating the latest major 1,730 support.

"Also, market sentiments may remain cautious and choppy amid ongoing 3Q17 reporting season and FBM KLCI index on Bursa Malaysia, downside of the FBM KLCI could extend further after the key index violated below multiple major SMA supports.

"Also, market sentiment may remain cautious amid ongoing 3Q17 reporting season and the FBM KLCI index rebalancing exercise on Nov 30. Key supports are 1,700-1,706 while resistances are situated at 1,728-1,751," it said.