KUALA LUMPUR (April 8): The FBM KLCI took a breather today after the recent rally and extended its losses at mid-morning, weighed by profit taking at selelect blue chips.

At 10am, the FBM KLCI fell 5.99 points to 1,850.52.

The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd, Telekom Malaysia Bhd, Petronas Dagangan Bhd, Batu Kawan Bhd, Genting Bhd, Genting Malaysia Bhd, CIMB Group Holding Bhd and Johore Tin Holdings Bhd.

The actives included YFG Bhd, Wintoni Group Bjd JAKS Resources Bhd, Takaso Resources Bhd, APFT Bhd and Nova MSC Bhd.

The gainers included Nestle (M) Bhd, LTKM Bhd, United Plantations Bhd, Malaysian Pacific Industries Bhd, Oriental Food Holdings Bhd, Pestech International Bhd and Unisem (M) Bhd.

Japanese shares were probing 15-year peaks Wednesday as investors favoured Asian assets on expectations of more stimulus from countries such as China and Japan, as well as a delayed start to any tightening by the U.S. Federal Reserve, according to Reuters.

The chase for yield in emerging markets overshadowed a flat finish for Wall Street, where a swing higher in the dollar was viewed as a threat to multinational corporations' profits. Oil prices also suffered a setback on data showing a jump in crude stockpiles, it said.

JF Apex Securities Research said US markets closed slightly lower amid higher oil price and US dollar as investors eye today's minutes of Federal Reserve's meeting and the start of corporate earnings season.

Meanwhile, it said European stocks rallied after the long weekend due to optimism that US interest rate hike will come later.

“On the local market, the FBM KLCI surged 13.57 points to 1856.51 points yesterday with buying interest on index-linked counters.

“Asian equities are expected to be positive ahead of Japan's interest rate decision.

“We expect the KLCI to take a breather and trade below its resistance of 1860 points as investors take profit from the recent rally,” it said.