KUALA LUMPUR (May 3): The FBM KLCI remained in negative territory at mid-morning today, tracking regional markets.

At 10am, the FBM KLCI fell 3.95 points to 1,848.08.

Losers led gainers by 261 to 161, while 244 counters traded unchanged. Volume was 450.78 million shares valued at RM215.87 million.

The top losers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Ibraco Bhd, Petronas Gas Bhd, Carlsberg Brewery Malaysia Bhd, Hong Leong Bank Bhd and CIMB Group Holdings Bhd.

The actives included Sapura Energy Bhd, Sumatec Resources Bhd, Nexgram Holdings Bhd and Bursa Malaysia -listed Hang Seng Index-linked put warrants.

The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Dutch Lady Milk Industries Bhd, Allianz Malaysia Bhd, Malaysian Pacific Industries Bhd and Top Glove Corp Bhd.

Asian shares were subdued on Thursday ahead of anxiously-awaited Sino-U.S. trade talks, while the U.S. dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes this year, according to Reuters.

Reports the Trump administration is considering executive action to restrict some Chinese companies' ability to sell telecoms equipment in the United States could unsettle investors, it said.

Kenanga IB Research said Asian market mostly closed lower as investors stay cautious in anticipation of U.S. Fed policy decision.

It said the local FBM KLCI slid 18.34 points (-0.98%) to close at 1,852.03.

“Momentum indicators turned bearish-bias after yesterday’s fall as both RSI and MACD were dragged lower.

“From here, expect consolidation in the near term with 1,840 (S1) providing support, followed by next support identified at 1,800 (S2).

“Conversely, resistance can be located at 1,880 (R1) and 1,910 (R2) further up,” it said.