KUALA LUMPUR (March 22): The FBM KLCI pared some of its loss at mid-morning today and remained firmly above the 1,700-point level.

At 10.01am, the FBM KLCI was down 0.55 points to 1,717.81. The index had earlier slipped to a low of 1,715.79.

The decliners included Petronas Dagangan Bhd, Keck Seng (Malaysia) Bhd, Carlsberg Brewery (M) Holdings Bhd, Petronas Gas Bhd, British American Tobacco (M) Bhd, Petronas Chemicals Group Bhd, Apex Healthcare Bhd and PPB Group Bhd.

The actives included EKA Noodles Bhd, Nexgram Holdings Bhd, Compugates Holdings Bhd, Pesona Metro Holdings Bhd, XOX Bhd, Frontken Corporation Bhd  and Ranhill Holdings Bhd.

The gainers included Aeon Credit Services (M) Bhd, Scientex Bhd, Tenaga Nasional Bhd, KESM Industries Bhd, Sarawak Oil Palms Bhd, Malaysia Smelting Corporation Bhd, UEM Edgenta Bhd and Allianz Malaysia Bhd.

Asian stocks wobbled on Tuesday as hawkish comments from U.S. Federal Reserve officials stoked uncertainty about policy makers' intentions less than a week after Fed Chair Janet Yellen had set out a more cautious path to rate increases this year, according to Reuters.

The dollar got a mild boost from the suggestion that U.S. monetary policy could be tightened sooner rather than later, it said.

Hong Leong IB Research said following a decisive close above 1,710 levels (March 7) last Friday, the FBM KLCI is expected to retest the 1,727 (March 19) and 1,744 (Aug 3 high) this week amid dovish stance by global central banks, soaring crude oil and CPO prices, ringgit strength coupled with bullish technical outlook.

“Weekly supports are 1,687-1,700,” he said.