KUALA LUMPUR (April 20): The FBM KLCI retreated at the midday break today after some choppy trade in the morning session.

At 12.30pm, the FBM KLCI fell 4.32 points to 1,706.83. The index had earlier risen to its intra-morning high of 1,715.43.

Gainers led losers by 351 to 320, while 357 counters traded unchanged. Volume was 974.73 million shares valued at RM935.12 million.

The top losers included British American Tobacco (Malaysia) Bhd, Panasonic Manufacturing Malaysia Bhd, Scientex Bhd, PPB Group Bhd, Latitude Tree Holdings Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Lafarge Malaysia Bhd, Apex Healthcare Bhd, Pestech International Bhd and IOI Corp Bhd.

The actives included AirAsia X Bhd, Spring Gallery Bhd, JAG Bhd, AirAsia Bhd, Vivocom Intl Bhd, Sumatec Resources Bhd and Bumi Armada Bhd.

The gainers included Hong Leong Industries Bhd, Atlan Bhd, Aeon Credit Service (M) Bhd, Genting Bhd and Spring Gallery.

All the air was sucked out of Asian shares on Wednesday as oil prices took a fresh spill on news Kuwaiti oil workers ended a three-day strike, leaving markets suddenly directionless, according to Reuters.

The deflating mood was reflected in a 0.3% drop in EMINI futures for the S&P500 and broad demand for safe-haven US Treasuries, it said.

BIMB Securities Research said most Asian markets posted strong gains yesterday, led by a jump in Japanese shares.

It said the Nikkei 225 gained 3.68% to 16,874.44, while the Hang Seng and Shanghai Composite Index rose 1.3% and 0.3% to 21,436.21 and 3,042.82 respectively.

"Back home, the FBM KLCI ended lower, fell 6.53 points or 0.38% to 1,711.15.

"Trading participation shows net selling by foreign institutions while local retails and local institutions were net buyers.

"We expect the local market to trend positive today following overnight rallies in Wall Street and Europe with immediate resistance at 1,720/1,730," it said.