KUALA LUMPUR (Jan 16): The FBM KLCI fell 0.64% at mid-morning on Friday as select blue chips weighed on the local market as regional markets retreated.

At 10am, the index fell 11.11 points to 1,733.89.

The top losers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd, MISC Bhd, Kuala Lumpur Kepong Bhd, CIMB Group Holdings Bhd, Scientex Bhd, UMW Holdings Bhd and RHB Capital Bhd.

The actives included Minetech Resources Bhd, IFCA MSC Bhd, Hubline Bhd, Systech Bhd, Nova MSC Bhd and Masterskill Education Group Bhd.

The top gainers included United Plantations Bhd, Oriental Interest Bhd, Tahps Group Bhd, Panasonic Malaysia Manufacturing Bhd, Malaysian Resources Corporation Bhd, SCGM Bhd,Pestech International Bhd, VS Industry Bhd and OCK Group Bhd.

Asian shares stepped back on Friday and major currencies mostly stuck to late U.S. levels as investors caught their breath, after Switzerland's unexpected move to abandon its currency cap jolted markets already roiled by plunging commodities prices, according to Reuters.

The euro suffered its biggest one-day drop against the Swiss franc in history and skidded to an 11-year low against the U.S. dollar after the Swiss National Bank (SNB) suddenly ditched its commitment to keep its franc above 1.20 per euro, it said.

JF Apex Securities Research said U.S. stocks fell for a fifth day with the S&P 500 finishing below 2,000 for the first time in a month, as crude prices fell, large U.S. banks reporting disappointing results, and Switzerland's central bank unexpectedly gave up its minimum exchange rate.

Meanwhile, it said European equities rallied after a volatile session of trade on to close sharply higher, following action from the Swiss National Bank.

“On the local market, the FBM KLCI added 2.99 points to 1745 points.

“Asian stock markets set for a lower opening on the final trading day of the week, tracking U.S. losses overnight after disappointing bank earnings and continued oil price slump.

“We expect the KLCI to continue hovering below the resistance level of 1765 points,” it said.