KUALA LUMPUR (March 4): The FBM KLCI pared some of its losses at mid-morning today and remained below the crucial 1,700-level, weighed by select blue chips.

At 10am, the FBM KLCI was down 5.52 points to 1,695.24. The index had earlier slipped to a low of 1,688.22.

Gainers edged losers by 283 to 280, while 280 counters traded unchanged. Volume was 826.32 million shares valued at RM444.55 million.

The top losers included Carlsberg Brewery Malaysia Bhd, Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, Genting Plantations Bhd, Malaysia Airports Holdings Bhd, Batu Kawan Bhd, PPB Group Bhd and Genting Bhd.

The actives included Sapura Energy Bhd, Dayang Enterprise Holdings Bhd, Bumi Armada Bhd, Sino Hua-An International Bhd, Iskandar Waterfront City Bhd, Perdana Petroleum Bhd and IFCA MSC Bhd.

The gainers included Aeon Credit Service (M) Bhd, RHB Bank Bhd, Apex Healthcare Bhd, Petra Energy Bhd, Dayang, SAM Engineering & Equipment (M) Bhd, BIMB Holdings Bhd, United Plantations Bhd, British American Tobacco (M) Bhd and ViTrox Corp Bhd.

US stock futures jumped on Monday on reports the United States and China were close to striking a trade deal after a year-long tariff skirmish while the dollar eased as traders wagered Federal Reserve policy will remain accommodative, according to Reuters.

The Wall Street Journal reported Washington could lift most or all of its tariffs on Beijing while a summit between US President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen later this month, the newswire said.

Hong Leong IB Research said on Wall Street, investors may stay optimistic on the trade development as Trump extended the key trade deadline and White House economic adviser Larry Kudlow commented that both the US and China are near to a historic trade agreement.

"However, the already overbought situation on the major indexes could be due for a pullback after rebounding strongly from the bottom in December, limiting the upside potential eventually.

"The Dow may range between 25,914-26,241 over the near term," it said.

On the FBM KLCI, the research house said although the sentiment could recover amid the easing tensions on the trade front, the uninspiring 4Q18 financial results may drag the stocks on Bursa Malaysia at least for the near term, limiting the upside potential on KLCI.

"Nevertheless, we believe stocks related to export-oriented and O&G are likely to be focused as ringgit is still hovering above the RM4.00/USD level, while Brent crude oil is stable above US$65 (RM264.78)," it said.