KUALA LUMPUR (April 19): The FBM KLCI pared some of its losses at the midday break today, but the broader market sentiment remained bearish.

At 12.30pm, the FBM KLCI was down 1.54 points to 1,739.06. The index had earlier dipped to its intra-morning low of 1,735.73.

Losers thumped gainers by 605 to 185, while 339 counters traded unchanged. Volume was 1.52 billion shares valued at RM798.62 million.

The top losers included Petronas Gas Bhd, Malaysian Pacific Industries Bhd, Panasonic Manufacturing Malaysia Bhd, Rapid Synergy Bhd, Ajinomoto (M) Bhd, Heineken Malaysia Bhd, British American Tobacco (M) Bhd, PPB Group Bhd and Tasek Corp Bhd.

The actives included Key Alliance Group Bhd, Vivocom Intl Holdings Bhd, Sumatec Resources Bhd, Tiger Synergy Bhd, Trive Property Group Bhd, JAB Bhd and Land & General Bhd.

The gainers included Far East Holdings Bhd, Scientex Bhd, ViTrox Corporation Bhd, Genting Bhd, Yen Global Bhd, Fraser & Neave Holdings Bhd and KESM Industries Bhd.

Sterling stole centre stage in Asia on Wednesday amid speculation Britain's surprise decision to call a snap election could ultimately deliver a more market-friendly outcome in its divorce from the European Union, according to Reuters.

Safe-havens stayed in favour as gold and bonds climbed ahead of presidential elections in France and on escalating tensions between the United States and North Korea, it said.

Kenanga IB Research said Asian markets finished mixed on Tuesday as geopolitical tensions took a back seat following a failed missile test by North Korea over the weekend.

It said the benchmark FBM KLCI ended 6.62 points higher (0.38%) at 1,740.55.

The research house said market breadth was stronger for the day with 520 gainers, 327 decliners and 397 counters traded unchanged.

"On the daily chart, the FBM KLCI has formed a 'Morning Doji Star' candlestick formation, which is typical of a short-term reversal pattern.

"Buying support was also apparent at the medium-term uptrend line in the past two days. While early signs are encouraging, trading volume has been lower than what we hoped for.

"At the same time, the key momentum indicators remain mixed.

"Hence, investors should wait for a move above 1,743 (R1) which would signal a more decisive resumption of its short- and medium-term uptrend. Further up the line, resistance can be found at 1,760 (R2) while downside support levels are 1,727 (S1) and 1,713 (S2)," it said.