KUALA LUMPUR (May 24): The FBM KLCI reversed its earlier gains and fell below the psychologically crucial 1,800-point level at mid-morning today.

At 10am, the FBM KLCI lost 29.53 points to 1,774.72.

Losers hammered gainers by 696 to 86, while 208 counters traded unchanged. Volume was 900.76 million shares valued at RM741.04 million.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Malayan Banking Bhd, Allianz Malaysia Bhd, Dutch Lady Milk Industries Bhd, Aeon Credit Service (M) Bhd, Heineken Malaysia Bhd, LPI Capital Bhd, KESM Industries Bhd and Danainfra Nasional Bhd.

The actives included Sapura Energy Bhd, My E.G. Services Bhd, Priceworth International Bhd, Maybank and Hibiscus Petroleum Bhd.

The gainers included Caring Pharmacy Group Bhd, MBRN Holdings Bhd, Apex Healthcare Bhd, MBM Resources Bhd and Supermax Corp Bhd.

Asian shares moved lower on Thursday as investors fretted about new setbacks in U.S.-China trade talks, but negative sentiment was tempered by U.S. Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while Japan's Nikkei stock index was 0.6 percent lower, it said.

Hong Leong IB Research in a traders’ brief said in the US, he uptrend could sustain over the near term.

“However, traders may turn cautious should there be any negative surprises from the trade talks. Also, next major events that traders will be monitoring will be the FOMC meeting (12-13 June) and the US-North Korea summit (12 June).

“We believe there could be some relief rebound on the FBM KLCI, tracking the slight gains on Wall Street.

“Nevertheless, upside could be limited as traders may still be focusing on the national debt issues and anticipate the next action plan by Pakatan Harapan to reduce the debt status.

“Moreover, the 1MDB newsflows on the media as well as the anticipated reviewing of construction mega projects and toll concessions may dampen the overall trading sentiment,”it said.