KUALA LUMPUR (April 27): The FBM KLCI retreated at the midday break, in tandem with the lacklustre regional markets.

At 12.30pm, the FBM KLCI shed 1.25 points to 1,767.67. The index had earlier risen to a high of 1,770.90.

Losers overtook gainers by 421 to 344, while 396 counters traded unchanged. Volume was 2.12 billion shares, valued at RM1.18 billion.

The top losers included British American Tobacco (M) Bhd, United Plantations Bhd, Scientex Bhd, Danainfra Nasional Bhd, Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Perak Corp Bhd, Genting Bhd, Genting Malaysia Bhd, HCK Capital Group Bhd and Kossan Rubber Industries Bhd.

The actives included Key Alliance Group Bhd, Dagang NeXchange Bhd, Luster Industries Bhd, Iris Corp Bhd, AirAsia X Bhd, Priceworth International Bhd, XOX Bhd and PUC Founder MSC Bhd.

The gainers included ViTrox Corp Bhd, Mega First Corp Bhd, Ancom Holdings Bhd, Heineken Malaysia Bhd, IHH Healthcare Bhd, Yinson Holdings Bhd, Tasek Corp Bhd and Southern Acids Bhd.

Asian shares eased from a near two-year high on Thursday as a long-awaited U.S. tax cut plan failed to inspire investors, though sentiment remained supported by global growth prospects and receding worries about political risks in Europe, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4% after hitting its highest level since June 2015 on Wednesday, it said.

Kenanga IB Research said the local bourse continued on its bullish note for the 4th consecutive session, inching up another 3.12 points or 0.18% to close at 1,768.92 yesterday.

It said market breadth was also positive, with 506 advancers outpacing 410 decliners during intra-day.

“Nonetheless, the FBM KLCI is still circa 1 point shy of the 1,770 psychological mark. On the chart, the FBMKLCI’s primary trend is still positively intact with the underlying trading above all its key SMAs.

“In tandem with that, both the MACD and daily RSI are hooking up bullishly to lay a hand on the encouraging short-term outlook ahead.

“All in, we continue to view that the FBM KLCI will trade upside-bias for the week, where[by] upside resistance are capped at 1,776 (R1), followed by 1,800 (R2),” it said.