KUALA LUMPUR (April 29): The FBM KLCI fell 0.25% at mid-morning today, dragged by select index-linked blue chips as local market sentiment turned tepid.

At 10am, the FBM KLCI fell 4.09 points to 1,634.29.

Losers led gainers by 366 to 174, while 291 counters traded unchanged. Volume was 699 million shares valued at RM334.42 million.

The decliners included United Plantations Bhd, Lingkaran Trans Kota Holdings Bhd, Hengyuan Refining Company Bhd, Petronas Chemicals Group Bhd, Kuala Lumpur Kepong Bhd, Public Bank Bhd, Hap Seng Consolidated Bhd, Maxis Bhd, Latitude Tree Holdings Bhd and Eita Resources Bhd.

The actives included Bumi Armada Bhd, Sumatec Resources Bhd, Priceworth International Bhd, Seacera Group Bhd, Daya Materials Bhd, Ekovest Bhd, Iskandar Waterfront City Bhd and Sapura Energy Bhd.

The gainers included Nestle (M) Bhd, Yee Lee Corp Bhd, Heineken Malaysia Bhd, Can-One Bhd, Sunsuria Bhd, Lafarge Malaysia Bhd, Ajinomoto (M) Bhd and G3 Global Bhd.

Asian stock markets edged up on Monday after surprising strong US first-quarter economic growth boosted the S&P 500 index to a record high, but gains were capped by caution over less upbeat aspects in the gross domestic product (GDP) report which pointed to some weakening ahead, according to Reuters.

Investors were also awaiting a meeting of the US Federal Reserve this week and Chinese factory data for further clues on policy direction in the world's biggest economies, it said.

Hong Leong IB Research said in the US, stocks are likely to stay afloat with the ongoing US corporate earnings season, coupled with the stronger economic data (1Q19 US GDP) which was released last week in the US.

"In addition, should there be any form of trade agreement being sealed in the next couple of weeks, we expect further rally in the stock markets. The Dow's resistance is envisaged around 26,952.

"Stocks on the local front may continue to stay neutral without any strong catalyst in the market as most of the construction related newsflow may have priced in during the recent technical rebound.

"Also, with the sudden slump in crude oil prices last week, we may anticipate oil and gas stocks to take a beating this week. The KLCI's upside likely to be capped along 1,640-1,658," it said.