KUALA LUMPUR (Jan 6): The FBM KLCI remained in positive territory at mid-morning today, but gains were limited in line with the subdued regional markets.

At 10am, the FBM KLCI was up 3.67 points to 1,669.37.

The top gainers included Panasonic Malaysia Manufacturing Bhd, KESM Industries Bhd, Kuala Lumpur Kepong Bhd, Scientex Bhd, Petron Malaysia Refining & Marketing Bhd, Kim Loong Resources Bhd, SAM Engineering & Equipment Bhd and Asia File Corporation Bhd.

The actively traded stocks included Instacom Group Bhd, RGB International Bhd, Kim Teck Cheong Consolidated Bhd, Emico Holdings Bdh, Iris Corporation Bhd and TDM Bhd.

The decliners included British American Tobaccco (M) Bhd, Malaysian Pacific Industries Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, P.I.E. Industrial Bhd and SapuraKencana Petroleum Bhd.

Asian stocks were subdued early on Wednesday as floundering crude oil prices continued to dampen risk sentiment, while the dollar and yen drew support from anxiety over global growth and geopolitical risk stemming from Iran-Saudi tensions, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent. Wall Street shares closed Tuesday on very modest gains and failed to provide Asia with much impetus, it said.

Hong Leong IB Research said that in the near term, Bursa Malaysia is likely to brace for choppy times ahead amid unresolved internal and external headwinds.

“Nevertheless, we believe severe downside risks are well-shielded by the reintroduction of Valuecap funds, potential further monetary easing from PBOC, positive ongoing progresses of 1MDB restructuring, resiliency in Malaysia’s economic fundamentals and sovereign ratings and the undervalued Ringgit could provide another good basis of return of foreign exposures on the Malaysian equities.

“Near term supports are 1622-1644 while resistances are 1674-1700,” it said.