KUALA LUMPUR (July 14): The FBM KLCI remained in negative territory at mid-morning despite analysts being positive on Bank Negara Malaysia easing its monetary policy.

At 10.01am, the FBM KLCI was down 3.87 points to 1,656.52.

The top losers included UOA Development Bhd, Asia File Corporation Bhd, MISC Bhd, Hap Seng Consolidated Bhd, Matrix Concepts Holdings Bhd, Petronas Dagangan Bhd, Globetronics Technology Bhd, Success Transformer Corporation Bhd, IOI Corporation Bhd and Latitude Tree Holdings Bhd.

The actives included AirAsia X Bhd, Hiap Teck Venture Bhd, UEM Sunrise Bhd, Vivocom International Holdings Bhd, Frontken Corporation Bhd, AirAsia Bhd and Trive Property Group Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Danainfra Nasional Bhd, British American Tobacco (M) Bhd, Ajinomoto (Malaysia) Bhd, Hong Leong Industries Bhd, Heineken Malaysia Bhd, Hong Leong Financial Group Bhd, Fraser & Neave Holdings Bhd, Sarawak Plantations Bhd and Batu Kawan Bhd.

Asian shares held near eight-month high on Thursday as investors bet the Bank of England will cut rates in a pre-emptive strike to ward off a recession following the country's decision to leave the European Union, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan were down 0.1 percent in early trade but stood near its eight-month peak hit on Wednesday. Japan's Nikkei was flat, it said.

Hong Leong IB Research said catalysts such as easing fears of brutal 'Brexit' fallout, the prospect of central banks and governments stepping up fiscal and stimulus measures, unexpected Bank Negara Malaysia monetary easing and expectations of more mega project roll-outs by Government in the near term are likely to drive the FBM KLCI higher towards immediate resistances at 1666-1671 soon.

“However, we still expect global markets to remain volatile for a while as profit taking may emerge after recent sharp relief rallies as investors grapple with potential Brexit domino impact, anemic global economic growth, rising terrorism risks, the prospects of potential EU shake-up and potential rise in regional geopolitical tensions after an international court rebuked China’s claims over the South China Sea,” it said.