KUALA LUMPUR (Sept 25): The FBM KLCI extended its consolidation at mid-morning today and hovered above the crucial 1,600-point level.

At 10am, the index was down 5.61 points to 1,607.56.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Tasco Bhd, IJM Corporation Bhd, KESM Industries Bhd, Tan Chong Motor Holdings Bdh, Genting Plantations Bhd, Axiata Group Bhd, Latitude Tree Holdings Bhd and Lafarge Malaysia Bhd.

The actively traded stocks included Idimension Consolidated Bhd, AirAsia Bhd, IFCA MSC Bhd, KNM Group Bhd, Datasonic Group Bhd and UEM Sunrise Bhd.

The top gainers included LPI Capital Bhd, British American Tobacco (M) Bhd, Hartalega Holdings Bdh, Pestech International Bhd, Petronas Gas Bhd, MISC Bhd, Telekom Malaysia Bhd and My E.G. Services Bhd.

Asian shares edged up on Friday, while the dollar rose and U.S. interest rate futures price briefly dropped after Federal Reserve Chair Janet Yellen suggested the central bank is still on track to raise interest rates later this year,accodring to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent in early trade, but on track for a weekly loss of more than 4 percent, it said.

Hong Leong IB Research said that technically, the FBM KLCI is likely to resume its extended consolidation in the near term amid deteriorating technical outlook, given nagging external and internal concerns.

“It appeared that the recent relief rally from 1503 (25 Aug low) has halted following the sharp retreat below 50-d SMA (now at 1648).

“Key support are 1600, 1595 and 1568,” it said.