KUALA LUMPUR (Nov 15): The FBM KLCI retreated at mid-morning today, as investor sentiment turned tepid ahead of the third-quarter GDP announcement later today.

At 10am, the FBM KLCI dipped 0.14 points to 1,593.41. The index had earlier risen to a high of 1,596.85.

Losers led gainers by 252 to 233, while 332 counters traded unchanged. Volume was 680.33 million shares valued at RM297.05 million.

The losers included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Dagangan Bhd, Kuala Lumpur Kepong Bhd, United Plantations Bhd, Malaysia Airports Holdings Bhd and Malaysian Pacific Industries Bhd.

The actives included Sapura Energy Bhd, Bumi Armada Bhd, DGB Asia Bhd, IFCA MSC Bhd, i-Stone Group Bhd, JAKS Resources Bhd, Ekovest Bhd, AirAsia X Bhd and Velesto Energy Bhd.

The gainers included Allianz Malaysia Bhd, IHH Healthcare Bhd, Genting Plantations Bhd, Hong Leong Industries Bhd, Mega First Corp Bhd, Power Root Bhd, Heitech Padu Bhd and Kawan Food Bhd.

Reuters reported that Asian equities rose on Friday after the S&P 500 index notched a new record closing high, but investor sentiment remained fragile following weak data from China and Germany, which reinforced concerns about the global economy.

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.34%. Japan's Nikkei added 0.58% and Australian shares gained 0.53%., it said.

Hong Leong IB Research said investors were pushing Wall Street towards the all-time-high region over the past few weeks in anticipation that a phase one mini deal will go through.

"However, without any solid details at this juncture until the signing of the agreement, we believe US equities may trend sideways with limited upside.

"Should there be any negative surprises, it may trigger a retracement, where the support is located around 27,100," the research house said.

On the local front, it said that with the persisting uncertainty over the phase one mini deal, coupled with the political tensions in Hong Kong as well as the cautious tone moving into the November reporting season, investors may stay on the sidelines over the near term.

"The FBM KLCI should trend sideways within 1,580-1,620 over the near term," it said.