KUALA LUMPUR (April 30): The FBM KLCI trended lower at mid-morning today as investors stayed on the sidelines ahead of the Labour Day public holiday on Tuesday.

At 10.10am, the FBM KLCI dipped 2.39 points to 1,861.08.

Losers led gainers by 248 to 184, while 244 counters traded unchanged. Volume was 395.94 million shares valued at RM170.83 million.

The top losers included Kuala Lumpur Kepong Bhd, Shangri-La Hotels (M) Bhd, Malaysia Airports Holdings Bhd, Heineken Malaysia Bhd and Bursa Malaysia-listed Hang Seng Index-linked put warrants.

The actives included Borneo Oil Bhd, Bursa Malaysia-listed Hang Seng Index-linked put warrants, Sapura Energy Bhd and Iris Corp Bhd.

The gainers included Allianz Malaysia Bhd, PMB Technology Bhd, Panasonic Manufacturing Malaysia Bhd, British American Tobacco (M) Bhd, Public Bank Bhd, Fraser & Neave Holdings Bhd, Kossan Rubber Industries Bhd and Keck Seng (M) Bhd.

Asian shares rose again on Monday as tensions in the Korean Peninsula eased and first-quarter earnings shone, although some investors pondered whether this sunny outlook could dim in the near future, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1 percent following a jump of more than 1 percent on Friday. The index is poised to end the month rather flat after two consecutive losses, it said.

Hong Leong IB Research in a traders’ brief today said that in the US, an extended tug of war between ongoing earnings season and the extended worries over the rising yield environment coupled with nagging trade war tensions.

“Despite a flat closing last Friday, the Dow is poised for a downtrend line breakout towards 24.9-25.0k in the short term, after building a floor above 200d SMA near 23.8k.

“On a holiday-shortened week (Labour Day holiday on 1 May), we still believe the severely oversold lower liners could be due for technical rebounds after recent routs.

“For the main benchmark index, it could advance further but any upside is likely to be capped near 1,876-1880 levels ahead of the polling date on 9 May,” it said.