KUALA LUMPUR (Feb 24): The FBM KLCI pared some of its losses at mid-morning today, aided by gains at select blue chips.

At 10.01am, the FBM KLCI shed 0.65 points to 1,703.83. The index had earlier slipped to a low of 1,701.34.

The top losers included Tasek Corporation Bhd, IHH Healthcare Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, Hong Leong Financial Group Bhd, Pos Malaysia Bhd, Genting Malaysia Bhd, Ta Ann Holdings Bhd, Prestariang Bhd, Gas Malaysia Bhd and Latitude Tree Holdings Bhd.

The actives included Frontken Corporation Bhd, Dagang NeXchange Bhd, JAG Bhd, Kinsteel Bhd, Lion Industries Corp Bhd, AirAsia Bhd and RGB International Bhd.

The gainers included Dutch Lady Milk Industries Bhd, DanaInfra Nasional Bhd, Petron Malaysia Refining & Marketing Bhd, British American Tobacco (M) Bhd, IGB Corporation Bhd, United Plantations Bhd, Kuala Lumpur Kepong Bhd and OldTown Bhd.

Asian shares took a breather on Friday, hovering just below 1½-year highs as investors braced for a potentially wobbly session after US President Donald Trump called China "grand champions" of currency manipulation, according to Reuters.

Over the past month or so, financial markets have been buffeted by rising protectionism under the Trump administration, and the President's latest comments on China does little to raise confidence on trade relations between the world's two biggest economies, it said.

Hong Leong IB Research said the aggressive buying spree has certainly taken a backseat as the Dow is having an overbought situation.

It said investors are cherry picking the stocks within the commodities sector such as crude oil and gold.

"Hence, we opine that the upside of the Dow might be capped along the 21,000 level, with a trailing support located around 20,540.

"On the local front, following the violation of the FBM KLCI below the EMA5, the key index might experience a short-term pullback towards the immediate support of 1,700.

"Also, FBM Small Cap stocks are looking toppish near the 16,200 level. Nevertheless, buying interest could be emerging within the O&G stocks amid recovering crude oil prices," it said.