KUALA LUMPUR (July 12): The FBM KLCI retreated and dipped 0.14% at mid-morning today, weighed by select blue chips including CIMB Group Holdings Bhd.

At 10am, the FBM KLCI fell 2.28 points to 1,676.98. The index had earlier risen to a high of 1,682.04.

Gainers led losers by 328 to 226, while 294 counters traded unchanged. Volume was 927.95 million shares valued at RM518.71 million.

The decliners included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, CIMB, Hong Leong Bank Bhd, Heineken Malaysia Bhd, PPB Group Bhd, United Plantations Bhd and UWC Bhd.

The actives included KNM Group Bhd, Sapura Energy Bhd, Cuscapi Bhd, Prestariang Bhd, My EG Services Bhd, Ekovest Bhd, Bumi Armada Bhd and Green Packet Bhd.

The gainers included KESM Industries Bhd, Panasonic Manufacturing Malaysia Bhd, ViTrox Corp Bhd, Elsoft Research Bhd, Magna Prima Bhd, Atlan Holdings Bhd, Petronas Gas Bhd, Carlsberg Brewery Malaysia Bhd and UMW Holdings Bhd.

Asian shares pulled back on Friday as worries over renewed Sino-US trade tensions weighed on sentiment ahead of the release of June trade data from China, though expectations of a Federal Reserve rate cut later this month kept losses in check, according to Reuters.

Those bets remained strong despite a rise in US consumer inflation in June, and helped to lift the S&P 500 index to a record closing on Thursday. S&P 500 e-mini futures were last up 0.21% at 3,010.25, it said.

Hong Leong IB Research said that in the US, market may continue to stay afloat with the investors pricing in a higher chance of the Fed reducing the interest rate in the upcoming Federal Open Market Committee (FOMC) meeting.

"Hence, the Dow may be supported above 27,000. However, should [there be] any negative surprises in the trade developments between the US and China, it may cap the upside potential of the markets.

"On the local bourse, we expect buying interest to sustain given the positive Wall Street performance overnight.

"Also, the traders may look out for technology-related stocks as volumes have picked up strongly in the past few days and O&G-related counters on the back of the recent rally in crude oil prices. The KLCI may retest 1,700 over the near term," it said.