KUALA LUMPUR (Jan 7): The FBM KLCI dipped 0.51% at mid-morning today, weighed by losses at index-linked plantation stocks.

At 10.01am, the FBMKLCI fell 8.38 points to 1,659.59.

The top losers included Petronas Dagangan Bhd, Hong Leong Financial Group Bhd, British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, IJM Plantations Bhd, Kuala Lumpur Kepong Bhd, Vitrox Corporation Bhd, IOI Corporation Bhd and Sime Darby Bhd.

The actively traded stocks included Instacom Group Bhd, ES Ceramics Technologies Bhd, Red Sena Bhd, JAG Bhd, Genetec Technologies Bhd and Nexgram Holdings Bhd.

The gainers included Fiamma Holdings Bhd, Favelle Favco Bhd, Shell Refining Company (Federation of Malaya) Bhd, SAM Engineering & Equipment Bhd, LPI Capital Bhd and Lay Hong Bhd.

Asian stocks touched a three-month low early on Thursday as worries about the Chinese economy, reflected recently in a sharply lower yuan, kept investors nervous, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, brushing its lowest level since late September. The index has lost about five percent so far this week, it said.

Hong Leong IB Research reiterated that the FBM KLCI’s near term outlook to remain choppy amid unresolved internal and external headwinds.

“Nevertheless, we believe severe downside risks are well-shielded by the reintroduction of Valuecap funds, potential further monetary easing from PBOC, positive ongoing progresses of 1MDB restructuring, resiliency in Malaysia’s economic fundamentals and sovereign ratings and the undervalued Ringgit could provide another good basis of return of foreign exposures on the Malaysian equities.

“Near term supports are 1622-1644 while resistances are 1674-1700,” it said.