KUALA LUMPUR (May 19): The FBM KLCI pared some of its losses at mid-morning today but continued its consolidation phase in line with regional markets that slipped.

At 10am, the FBM KLCI was down 3.41 points to 1,632.31. The index had earlier dipped to a low of 1,621.08.

The top losers included Genting Bhd, Malayan Banking Bhd, Daiman Development Bhd, Public Bank Bhd, Tenaga Nasional Bhd, United Plantations Bhd, Pintarasa Jatya Holdings Bhd and Malaysian Pacific Industries Bhd.

The actives included Compugates Holdings Bhd, Vivocom International Holdings Bhd, AirAsia X Bhd, Kanger International Bhd and Salutica Bhd.

The gainers included British American Tobacco (M) Bhd, Ajinomoto (Malaysia) Bhd, P.I.E. Industrial Bhd, Carlsberg Brewery (M) Holdings Bhd, Fraser & Neave Holdings Bhd, Tasek Corporation Bhd and IOI Corporation Bhd.

Asian stocks slipped but the dollar was buoyant early on Thursday as markets scrambled to factor in a near-term U.S. interest rate hike foreshadowed in minutes of the Federal Reserve's last monetary meeting, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.3 percent. South Korea's Kospi dipped 0.3 percent, it said.

AffinHwang IB Research said the FBM KLCI is anticipated to resume its downward correction due to medium term’s overbought situation.

“Globally, major equity markets struggled to maintain their recent rally, DJIA plunged below its 18,000  mark, upward momentum faded after US April’s non-farm payroll report turns out to be not so favourable.

“In Japan, the Bank Of Japan continues to manage Yen which strengthens aggressively against US Dollar, recent data suggests that deflation risks emerge,” it said.