KUALA LUMPUR (Dec 17): The FBM KLCI gave up its earlier gains and slipped 0.29% at mid-morning on some mild profit-taking activities.

At 10am, the FBM KLCI fell 4.68 points to 1,564.67. The index had earlier risen to a high of 1,573.29.

Losers led gainers by 257 to 227, while 319 counters traded unchanged. Volume was 503.07 million shares valued at RM275.25 million.

The top losers included Panasonic Manufacturing Malaysia Bhd, Kuala Lumpur Kepong Bhd, Nestle (M) Bhd, Petronas Gas Bhd, Dutch Lady Milk Industries Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd, QL Resources Bhd and Sime Darby Plantation Bhd.

The actives included Ekovest Bhd, Rimbunan Sawit Bhd, JKG Land Bhd, TDM Bhd, Iskandar Waterfront City Bhd, Sanichi Technology Bhd, Uzma Bhd, Pansar Bhd and Dynaciate Group Bhd.

The gainers included British American Tobacco (M) Bhd, United Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Public Bank Bhd, Kossan Rubber Industries Bhd, Greatech Technology Bhd, Frontken Corp Bhd and IGB Bhd.

Reuters said Asian shares gained on Tuesday, but a lack of detail about the Sino-US trade deal tempered some of the exuberance that sent Wall Street to record highs overnight, while familiar fears of a hard Brexit knocked the pound.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%. Japan's Nikkei rose half a percent to its highest in more than year. Australia's S&P/ASX 200 eked a tiny extension to Monday's big gains, it said.

Hong Leong IB Research said given the phase one trade deal has been agreed for now and will be inked by January, it expects market participants to look into higher risk investment instrument such as equities over the near term as this brief interlude of calm for the US-China relationship should present decent investment opportunities (after a prolonged 18-month trade war).

"The Dow's trading range could be located around 28,000-28,500.

"Still, we opine that the buying interest is likely to spill over towards stocks on the local front and market participants could refocus on technology related stocks over the near term following the phase one trade agreement last week.

"Also, traditional window dressing activities could lift the FBM KLCI and the key index may revisit 1,580-1,600 levels," it said.