KUALA LUMPUR (Jan 30): The FBM KLCI remained subdued at mid-morning today, as select index-linked stocks retreated and kept the local index below the 1,700-point level.

At 10.05am, the FBM KLCI was down 1.61 points to 1,688.80.

Gainers led losers by 238 to 177, while 258 counters traded unchanged. Volume was 488.69 million shares valued at RM211.67 million.

The losers included Batu Kawan Bhd, Yinson Holdings Bhd, New Hoong Fatt Holdings Bhd, Rapid Synergy Bhd, BLD Plantation Bhd, Malayan Banking Bhd, Carlsberg Brewery Malaysia Bhd and Fraser & Neave Holdings Bhd.

The actives included Sapura Energy Bhd, KNM Group Bhd, Sinmah Capital Bhd, PUC Bhd, Bumi Armada Bhd, Carimin Petroleum Bhd and Seacera Group Bhd.

The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, LPI Capital Bhd, Hong Leong Financial Group Bhd, Petronas Dagangan Bhd, UEM Edgenta Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Genting Plantations Bhd and Pentamaster Corp Bhd.

US stock futures and Asian equities eked out modest gains on Wednesday as investors seized on Apple Inc's earnings and comments from its chief that US-China trade tensions were easing, sending the iPhone maker's shares soaring in after-hours trade, according to Reuters.

Sterling smarted from a 0.7% fall the previous day after British lawmakers rejected most amendments that sought to avoid Britain leaving the European Union without a deal, reviving worries of a chaotic withdrawal from the European Union, it said.

Kenanga IB Research said Asian stock markets mostly closed lower following US loss on Monday night as investors also remain cautious after US charged China's Huawei ahead of the trade talk.

The research house said the local benchmark index slipped another 7.09 points (-0.42%) to close at 1,690.41 yesterday.

"We maintain our neutral outlook on the index as the index is still above the 20- and 50-day SMAs (simple moving averages) but the stochastic indicator is in the overbought zone.

"Should the trade talk turn out favourable, continuous positive momentum may see it trending higher to resistance levels at 1,730 (R1) and 1,800 (R2) possibly.

"Conversely, support levels can be identified at 1,650 (S1) and 1,600 (S2) further down," it said.