KUALA LUMPUR (June 14): The FBM KLCI pared some of its losses at mid-morning today, but remained 0.4% in the red, tracking regional markets.

At 10am, the FBM KLCI was down 7.06 points to 1,756.51. The index had earlier fallen to a low of 1,745.45.

Losers led gainers by 289 to 196, while 283 counters traded unchanged. Volume was 483.47 million shares valued at RM348.78 million.

The top losers included Nestle (M) Bhd, PPB Group Bhd, Petronas Gas Bhd, UMW Holdings Bhd, Pharmaniaga Bhd, Genting Plantations Bhd, Petron Malaysia Refining & Marketing Bhd, Aeon Credit Service (M) Bhd, Kuala Lumpur Kepong Bhd and Tenaga Nasional Bhd.

The actives included Fintec Global Bhd, Sanichi Technology Bhd, Sapura Energy Bhd, TDM Bhd, Lambo Group Bhd and Iris Corp Bhd.

The gainers included Fraser & Neave Holdings Bhd, Supermax Corp Bhd, Lingkaran Trans Kota Holdings Bhd, Pos Malaysia Bhd, Carlsberg Brewery Malaysia Bhd and Karex Bhd.

Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about US-China trade frictions kept investors on edge, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25% in early trade. South Korea's KOSPI was off 0.9%, while Australia's market slipped 0.2%, it said.

Hong Leong IB Research in a traders' brief said investors may have to reassess the hawkish tone by the Fed and readjust their investment decisions at least for the near term.

"Also, should there be any further revealing of fresh tariffs by the US towards its trading partners, [it] may pressure the stock markets, curtailing the upside for Wall Street.

"Tracking the negative performance on Wall Street, coupled with the interest rate hikes in the US, we think stocks on the local bourse could trend sideways.

"Also, ahead of the long weekend break, trading activities may slow down today as local exchange will be trading only half a session.

"Nevertheless, we may expect short-term trading activities to be seen within the O&G (higher overnight crude oil prices) and construction stocks due to oversold signals," it said.