KUALA LUMPUR (Feb 3): The FBM KLCI pared some of its losses at the midday break, but sentiment remained weak in line with the opaque global economic outlook on the back of volatile crude oil prices.

At 12.30pm, the FBM KLCI was down 13.97 points at 1,639.21. The index had earlier fallen to its intra-morning low of 1,631.11.

Losers outpaced gainers by 469 to 193, while 274 counters traded unchanged. Volume was 745.06 million shares valued at RM733.15 million.

The top losers included Shell Refining Company (Federation of Malaya) Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Hong Leong Bank Bhd, UMW Holdings Bhd, PPB Group Bhd, United Plantations Bhd, Globetronics Technology Bhd and Tenaga Nasional Bhd.

The actively traded stocks included Sanichi Technology Bhd, Tiger Synergy Bhd, AirAsia X Bhd, XOX Bhd and EKA Noodles Bhd.

The gainers included DanaInfra Nasional Bhd, Hong Leong Industries Bhd, Fraser & Neave Holdings Bhd, Scientex Bhd, Oriental Food Industries and Kossan Rubber Industries Bhd.

Asian shares tumbled on Wednesday as oil prices dropped for a third day, prompting investors to seek shelter in safe-haven assets and lifting bonds and gold to multi-month highs, according to Reuters.

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 2.1% led by a 3% fall in Hong Kong shares, it said.

AffinHwang Capital Research said pullbacks are expected to continue for stocks in Bursa Malaysia.

"Crude oil prices (WTI and Brent) resume their downward movements, ringgit weakens. Sell on strengths," it added.

The research house said uncertainties remain despite strong month end closing.

It said this week, stocks in Bursa Malaysia are anticipated to firm up with a slight upward bias.

"Concerns over China's slowdown, global growth prospect and sliding commodity prices remain.

"Fresh concerns emerged on the possible massive write downs, bond/loans defaults as a result of current plunge in commodity prices.

"Technically, both short- and medium-term trends remain downwards," it said.