KUALA LUMPUR (Aug 17): The FBM KLCI pared some of its loss at mid-morning today, but remained in the negative zone on some mild profit taking.
At 10.02am, the FBM KLCI was down 3.26 points to 1,696.63. The index had earlier dipped to a low of 1,694.12.
The top losers included British American Tobacco (M) Bhd, Panasonic Manufacturing Malaysia Bhd, Hong Leong Financial Group Bhd, KESM Industries Bhd, Oriental Holdings Bhd, Top Glove Corporation Bhd, Kossan Rubber Industries Bhd, Genting Plantations Bhd and MISC Bhd.
The actives included Dagang NeXchange Bhd, Iris Corp Bhd, XOX Bhd, IFCA MSC Bhd, TH Heavy Engineering Bhd, AirAsia Bhd, Asia Media Group Bhd and AirAsia X Bhd.
The gainers included United Plantations Bhd, Fraser & Neave Holdings Bhd, Power Root Bhd, KLCC Property Holdings Bhd, S P Setia Bhd, Press Metal Bhd, Dutch Lady Milk Industries Bhd and AirAsia.
Asian shares stepped back from a one-year high on Wednesday after the influential New York Federal Reserve Bank president said the Fed could raise interest rates as soon as September, prompting investors to pause after rallies in recent weeks, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.05% while Japan's Nikkei rose 0.4%, paring some of Tuesday's sharp losses, it said.
Hong Leong IB Research said the overnight fall on Dow and hawkish comments by Fed officials coupled with toppish FBM KLCI daily and weekly slow stochastic indicators may see Bursa Malaysia engage in short-term profit taking consolidation.
"Key resistances are 1,700–1,716 while supports are 1,675–1,684," it said.