KUALA LUMPUR (Nov 6): The FBM KLCI pared some of its losses and reclaimed the 1,600 level at the midday break today, against the backdrop of muted regional markets.

At 12.30pm, the FBM KLCI fell 6.34 points to 1,600.40. The index had earlier slipped to a low of 1,597.18.

Losers led gainers by 327 to 211, while 514 counters traded unchanged. Volume was 1.38 billion shares valued at RM766.79 million.

The top losers included United Plantations Bhd, Petronas Gas Bhd, Top Glove Corp Bhd, KESM Industries Bhd, Time Dotcom Bhd, Dutch Lady Milk Industries Bhd, Petronas Chemicals Group Bhd, Hong Leong Bank Bhd, Yinson Holdings Bhd and IJM Corp Bhd.

The actives included Velesto Energy Bhd, Sumatec Resources Bhd, NetX Holdings Bhd, Karambunai Corp Bhd, KNM Group Bhd and Komarkcorp Bhd.

The gainers included Fraser & Neave Holdings Bhd, Malaysia Airports Holdings Bhd, Allianz Malaysia Bhd, Nestle (M) Bhd, British American Tobacco (M) Bhd, Sunway Bhd, Chin Teck Plantations Bhd, Hong Leong Industries Bhd and Aeon Credit Service (M) Bhd.

Reuters reported that most Southeast Asian stock markets traded in a flat-to-low range on Wednesday, with the Philippines leading declines after recent gains, as investors turned cautious in anticipation of concrete details from the Sino-US trade negotiations.

It said China is insisting that the United States remove tariffs imposed in September as a part of the "phase one" Sino-US trade deal, which is expected to be signed this month at a yet-to-be-determined location.

Affin Hwang Capital Research said the FBM KLCI Index moved higher in yesterday's session, gaining 3.18 points or 0.2%, closing at 1,606.74.

"Despite gapping slightly lower in yesterday's session, the index managed to close the gap and continue pushing higher, making new highs. This shows that the upward bias still remains intact.

"Presently, technical indicators as well as price action do not indicate signs of a reversal. Hence, remain view that the index will retest the 1,615 level in the near future.

"Technical relief rebound in progress," it said.