KUALA LUMPUR (Feb 27): The FBM KLCI pared some of its losses as regional markets edged higher on improved sentiment.

At 12.30pm, the FBM KLCI was down 5.31 points to 1,713.69. The index had earlier dipped to its intra-morning low of 1,710.68.

Losers led gainers by 329 to 260, while 461 counters traded unchanged. Volume was 1.10 billion shares valued at RM919.11 million.

Among the losers were British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, Batu Kawan Bhd, Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, Malaysia Airports Holdings Bhd.

The actives included Dayang Enterprise Holdings Bhd, Seacera Group Bhd, Sapura Energy Bhd, FGV Holdings Bhd, Bumi Armada Bhd, Naim Holdings Bhd and Econpile Holdings Bhd.

The gainers included ViTrox Corp Bhd, Apex Healthcare Bhd, United Plantations Bhd, Amway (M) Holdings Bhd, Yinson Holdings Bhd, Hengyuan Refining Company Bhd and Favelle Favco Bhd.

Asian stocks edged higher on Wednesday, with positive sentiment kept in check after a Wall Street advance fizzled as investors found little in US Federal Reserve chairman Jerome Powell's Congress testimony to extend the recent rally. The US dollar held overnight losses and Treasuries steadied, according to Bloomberg.

Equities posted modest gains in Japan, Australia, Hong Kong and China. Earlier, the S&P 500 Index dropped in the final hour of trading to close in the red after Powell warned that growth looked uneven and policy makers will be patient on interest-rate adjustments. The pound retained gains spurred by a promise from UK Prime Minister Theresa May for a vote to delay Brexit if her proposed deal fails. Trading in futures on US Treasuries and the S&P 500 was impacted due to a technical problem at CME Group Inc. Silver spiked as much as 4% before pulling back, the newswire said.

Affin Hwang Capital Research said the FBM KLCI Index fell as much as 10 points before paring some losses, closing 5.58 points or 0.32% lower in Tuesday's session.

"The index is showing signs of making a temporary pullback in a prevailing uptrend as prices are steadily edging lower the past few days. This is supported by indicators, namely RSI (relative strength index) & Stochastic as they are now at overbought regions.

"Anticipate the index to retrace towards immediate support around 1,705-1,715 level," it said.