KUALA LUMPUR (May 20): The FBM KLCI retreated at mid-morning in line with the lacklustre sentiment at most regional markets, and weighed by losses at Petronas-linked stocks.

At 10.01am, the FBM KLCI fell 0.38 points to 1,809.34. The index had earlier risen to a high of 1,812.09.

The top losers included British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, KLCC Property Holdings Bhd, Petronas Chemcials Group Bhd, United Plantations Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Hartalega Holdings Bhd and Pharmaniaga Holdings Bhd.

The actives included Nexgram Holdings Bhd, Kanger International Bhd, Frontken Corporation Bhd, Malakoff Corporation Bhd and Perisai Petroleum Teknologi Bhd.

The gainers included Syarikat Takaful Malaysia Bhd, Malaysia Pacific Industries Bhd, PPB Group Bhd, UMW Holdinhs Bhd, V.S. Industry Bhd, Vitrox Corporation Bhd, Kuala Lumpur Kepong Bhd, Pestech International Bhd and Top Glove Corporation Bhd.

Asian shares got off to a lacklustre start on Wednesday after a mixed day on Wall Street, though Japan's better-than-expected economic growth lifted the Nikkei to a nearly one-month high, according to Reuters.

The euro remained pressured by expectations that the European Central Bank would increase its bond-buying stimulus, it said.

Hong Leong IB Research said that following the FBM KLCI’s sharp retracement to close below 200-day simple moving average (now at 1,814) yesterday, Bursa Malaysia’s near term had turned more cautious as upward momentum could be temporarily disrupted.

“Short term resistances are 1814-1831 while supports fall on 1792-1800.

“Key domestic concerns are slower 2Q/3Q GDP due to GST risks, potential earnings disappointment in May reporting season, 1MDB huge debt saga, depressed Ringgit and high possibility of a sovereign rating downgrade by Fitch by May/June,” it said.