KUALA LUMPUR (April 6): The FBM KLCI traded range bound at mid-morning today and remained above the psychologically crucial 1,700-point level.

At 10am, the FBM KLCI was up 2.58 points to 1,720.66.

The top gainers included Scientex Bhd, SAM Engineering & Equipment Bhd, Can-One Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd, Top Glove Corporation Bhd, Genting Bhd and Tenaga Nasional Bhd.

The actives included AirAsia X Bhd, Borneo Oil Bhd, KNM Group Bhd, AirAsia Bhd, Nexgram Holdings Bhd and Iris Corporation Bhd.

The top losers included Malaysia Airports Holdings Bhd, P.I.E. Industrial Bhd, Ta Ann Holdings Bhd, Hap Seng Consolidated Bhd, Allianz Malaysia Bhd, UEM Edgenta Bhd, Bursa Malaysia Bhd and Petronas Gas Bhd.

Asian share prices won some reprieve on Wednesday after a sharp fall in the previous session, but gains were modest as soft economic data from the United States and Europe cast a shadow on the global economic outlook, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1% in the early trade, a day after it fell 1.6%, its biggest fall in almost two months, it said.

Hong Leong IB Research said that taking cue from slump on Dow overnight amid fears on global economic growth and on anticipation of diminishing technical readings as mentioned in its report, further selling pressure may be seen in local key bourse today.

“Further selling pressure would be confirmed if the KLCI closes below the low of 1,709 on April 4,” it said.