KUALA LUMPUR (Feb 23): The FBM KLCI retreated at the midday break today as the local market sentiment turned bearish, against the backdrop of the lacklustre regional markets.

At 12.30pm, the FBM KLCI dipped 0.05 points to 1,708.03. The index had earlier risen to its intra-morning high of 1,710.07.

Losers led gainers by 482 to 259, while 355 counters traded unchanged. Volume was 1.35 billion shares valued at RM1.1 billion.

The top losers included Cycle & Carriage Bintang Bhd, Allianz Malaysia Bhd, Pharmaniaga Bhd, Rapid Synergy Bhd, Hong Leong Financial Group Bhd, Aeon Credit Service (M) Bhd, SAM Engineering & Equipment (M) Bhd, Latitude Tree Holdings Bhd and Axiata Group Bhd.

The actives included RGB International Bhd, Hibiscus Petroleum Bhd, Dagang NeXchange Bhd, Bumi Armada Bhd, AirAsia X Bhd, Ekovest Bhd and Vivocom Intl Holdings Bhd.

The gainers included Petron Malaysia Refining & Marketing Bhd, Amway (M) Holdings Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, OldTown Bhd, Econpile Holdings Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd and Genting Bhd.

Asian stocks eased from a 19-month high on Thursday, while the US dollar made an uneven recovery from losses suffered after Federal Reserve (Fed) minutes indicated a cautious approach to raising US interest rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down almost 0.1%, having jumped to its highest level on Wednesday since July 2015, it said.

AffinHwang Capital Research said with US Fed's members hinting on interest hike in the near term, it is time for investors to rebalance their portfolio.

"The FBM KLCI index upside seems limited at this point of time, expect short-term consolidation in the near future. Accumulate quality stocks on price weakness.

"The FBM KLCI may surge further but the upside might be limited as the index enters the last leg up hence might be set for near-term distribution," it said.