KUALA LUMPUR (Dec 31): The FBM KLCI retreated at the midday break today as profit taking erased earlier gains.

At 12.30pm, the benchmark index fell 1.78 points to 1,691.36. The index had earlier risen to its intra-morning high of 1,697.43.

Losers outpaced gainers by 405 to 270, while 355 counters traded unchanged. Volume was 615.23 million shares valued at RM499.95 million.

The top losers included Dutch Lady Milk Industries Bhd, Time Dotcom Bhd, Guiness Anchor Bhd, Fraser & Neave Holdings Bhd, Shangri-La Hotels (Malaysia) Bhd, Apex Healthcare Bhd, LPI Capital Bhd, MISC Bhd and Hong Leong Financial Group Bhd.

The actively traded stocks included APFT Bhd, IFCA MSC Bhd, Talam Transform Bhd, Kim Teck Cheong Consolidated Bhd, Konsortium Transnasional Bhd, Instacom Group Bhd and Xinghe Holdings Bhd.

The gainers included Danainfra Nasional Bhd, Chin Teck Plantations Bhd, British American Tobacco (M) Bhd, Lay Hong Bhd, Kuala Lumpur Kepong Bhd, Kim Loong Resources Bhd and Cycle & Carriage Bintang Bhd.

Asian share markets looked set to end a rough, volatile year on a subdued note on Thursday as a renewed slide in oil prices sapped sentiment, a baleful trend that shows every sign of lingering into 2016, according to Reuters.

The relentless decline in oil prices, which have slumped as much as 35 percent this year, has hit currencies of commodity-rich countries including the Russian rouble, Canadian dollar, Norwegian crown, Brazilian real and Mexican peso, it said.

BIMB Securities Research said that in Asia, markets closed mixed yesterday amid lingering worried about dampened commodity prices and economic condition in China.

Locally, it said the FBM KLCI surged 7.78 points or 0.46% to 1,693.14, supported by plantation stocks and year-end window dressing.

“Trading participation shows net buyer by foreign institutions while local institutions and local retail were net sellers.

“We expect the local market to open cautiously in the final trading day of the year, following the global markets overnight. We expect the index to hover at around 1,683 – 1,700,” it said.