KUALA LUMPUR (Sept 13): The FBMKLCI continued to trade in negative territory in the mid-morning, ahead of the holiday-shortened week.

The local bourse was closed yesterday (Sept 12) for Hari Raya Haji and will be closed this Friday (Sept 16) for the Malaysia Day holiday.

At 10.36 a.m., the key index fell 7.33 points or 0.43% to 1,679.11 points.

The top gainer was TIME dotCom Bhd, while the top loser was United Plantations Bhd.

The most actively-traded securities were Hang Seng Index-linked warrants HSI-H45 and HSI-C36.

Reuters reported Asian stocks rose early on Tuesday, boosted by Wall Street's overnight rally, after Federal Reserve Board Governor Lael Brainard brought relief to risk asset markets by reducing prospects of a near-term interest rate hike.

The dollar, on the other hand, nursed loses against its peers, after Brainard reiterated her dovish views, the report added.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5%.

Hong Leong Investment Bank Research said in a note today that ahead of the holiday-shortened week and crucial Federal Open Market Committee (FOMC) meeting on Sept 20 and Sept 21, the local market is expected to remain choppy. Schools are also closed for a one-week break.

"In spite of wild swings in global markets and potential KLCI consolidation this week, we still believe downside risks will be well supported," the research outfit said.

This, the firm said, was due to investors looking over a lackluster second quarter 2016 (2Q16) earnings cycle to focus on positive expectations from a widely perceived 'election-friendly' Budget 2017, as well as expectations of the readiness of Bank Negara Malaysia (BNM) to support economic growth via policy easing.