KUALA LUMPUR (Aug 24): The FBM KLCI pared some of its losses at mid-morning today but extended its consolidation phase in line with regional markets.

At 10.01am, the FBM KLCI was down 0.34 points to 1,682.73. The index had earlier dipped to a low of 1,678.93.

The top losers included Dutch Lady Milk Industries Bhd, Carlsberg Brewery Malaysia Bhd, Oriental Holdings Bhd, Hong Leong Financial Group Bhd, AirAsia Bhd, Batu Kawan Bhd and Lafarge Malaysia Bhd.

The actives included AirAsia X Bhd, Iris Corp Bhd, AirAsia, Borneo Oil Bhd, Vivocom Intl Holdings Bhd, Dagang NeXchange Bhd and Asia Media Group Bhd.

The gainers included DKSH Holdings (M) Bhd, Amway (M) Holdings Bhd, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, Sime Darby Bhd, Unisem (M) Bhd and Yinson Holdings Bhd.

Asian stocks consolidated a recent run of gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid on trade data showing a surprise build-up in US crude stocks, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1% in early trades. It has risen more than 14% since late June to hit a 1-year high last week, it said.

Hong Leong IB Research said it expects corrective mode to prevail in order to neutralise overbought position.

“Sentiment may turn more cautious as we embrace a flurry of big caps results during the peak of ongoing August reporting season.

“On the external front, key focus is the global central bankers in Jackson Hole (Aug 25–27), where Janet Yellen may provide insight on the rate outlook, given that more and more Fed officials are supportive for imminent interest rate hike in coming months,” it said.