KUALA LUMPUR (Nov 15): The FBM KLCI retreated at mid-morning today in line with the slip at most regional markets, dragged by index-linked key blue chips.

At 10am, the FBM KLCI fell 1.28 points to 1,732.33.

The top decliners included Petron Malaysia Refining & Marketing Bhd, Petronas Dagangan Bhd, Far East Holdings Bhd, Hengyuan Refining Company Bhd, Carlsberg Brewery Malaysia Bhd, Magni-Tech Industries Bhd, PMB Technology Bhd, Aeon Credit Service (M) Bhd, Malayan Banking Bhd and Hong Leong Financial Group Bhd.

The actives included Hubline Bhd, Berjaya Corp Bhd, Borneo Oil Bhd, Diversified Gateway Solutions Bhd, Hibiscus Petroleum Bhd, Priceworth International Bhd and UMW Oil & Gas Corp Bhd.

The gainers included Nestle (M) Bhd, Ajinomoto (M) Bhd, Petronas Gas Bhd, Genting Malaysia Bhd, Scientex Bhd, Paramount Corp Bhd, TRIplc Bhd, Elsoft Research Bhd and Mercury Industries Bhd.

Asian stocks slipped on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.16 percent, it said.

Hong Leong IB Research in a traders’ brief said despite near term worries about the delay of US tax cuts to 2019, any downside in Dow is likely to be well supported for the time being amid upbeat economy and corporate earnings outlook coupled with gradual interest rates hikes.

“Hence, the Dow may trap in range bound consolidation within 22,800 to 24,000 over the near term until more clarity on the tax plans.

“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 ahead of the GE14, widely speculated to be held in March-May 2018. Key supports are 1707-1729 while resistances are situated at 1742-1751,” it said.