KUALA LUMPUR (Sept 11): The FBM KLCI eked out marginal gains at the midday break today but stayed below the crucial 1,600-point level.

At 12.30pm, the FBM KLCI added 1.18 points to 1,597.03.

Losers edged gainers by 258 to 249, while 518 counters traded unchanged. Volume was 1.32 billion shares valued at RM772.74 million.

The gainers included Magni-Tech Industries Bhd, Batu Kawan Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd, Ajinomoto (M) Bhd, Scientex Bhd, Supermax Corp Bhd, Axiata Group Bhd, Petronas Chemicals Group Bhd and British American Tobacco (M) Bhd.

The actives included Metronic Global Bhd, Green Packet Bhd, Bumi Armada Bhd, MNC Wireless Bhd, Eduspec Holdings Bhd and Sapura Energy Bhd.

The losers included Nestle (M) Bhd, Carlsberg Brewery (M) Bhd, Dutch Lady Milk Industries Bhd, Chin Teck Plantations Bhd, Malaysian Pacific Industries Bhd and Genting Plantations Bhd.

Bond yields climbed and stock markets held steady on Wednesday, as hopes of easing US-China tensions and diminished risk of a no-deal Brexit prompted traders to take profit before key central bank meetings, according to Reuters.

Oil prices also firmed, underpinned by a big drop in US crude stockpiles, after slipping the previous day, it said.

CGS-CIMB Retail Research said the FBM KLCI lost 8.62 points yesterday, partially dragged by the termination of the planned Axiata Group Bhd-Telenor ASA merger.

"Axiata plunged 77 sen or 15.78% to RM4.11 and DiGi lost 29 sen or 5.9% to RM4.60.

"The local bourse is likely to continue to trade range bound between 1,580 and 1,620 during this holiday-shortened trading week as investors will likely stay cautious ahead of the Bank Negara's decision on the OPR (overnight policy rate) tomorrow. Resistance: 1,620 & 1,640. Support: 1,581 & 1,572," it said.