KUALA LUMPUR (Sept 21): The FBM KLCI remained subdued at the midday break today ahead of yet another extended weekend.

At 12.30pm, the benchmark index fell 0.89 points to 1,772.69. The index had earlier risen to its intra-morning high of 1,776.31.

Losers outpaced gainers by 358 to 239, while 492 counters traded unchanged. Volume was 2.07 billion shares valued at RM1.17 billion.

The top losers included British American Tobacco (M) Bhd, Rapid Synergy Bhd, Genting Bhd, Scientex Bhd, Aeon Credit Service (M) Bhd, Petronas Gas Bhd, Kerjaya Prospek Group Bhd and Gas Malaysia Bhd.

The actives included Hibiscus Petroleum Bhd, UMW Oil & Gas Corp Bhd, KNM Group Bhd, Sino Hua-An International Bhd, Trive Property Group Bhd, Sumatec Resources Bhd, Alam Maritim Resources Bhd, Borneo Oil Bhd and Daya Materials Bhd.

The gainers included KESM Industries Bhd, Malaysian Pacific Industries Bhd, Pentamaster Corp Bhd, Spritzer Bhd, Knusford Bhd, Hai-O Enterprise Bhd, JF Technology Bhd, Kossan Rubber Industries Bhd, Oriental Interest Bhd and Batu Kawan Bhd.

The US dollar shone while Asian shares slipped on Thursday after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year, according to Reuters.

MSCI's broadest dollar-denominated index of Asia-Pacific shares outside Japan was down 0.4%, shrugging off slight gains on Wall Street, it said.

CIMB Retail Research said the local barometer edged lower yesterday as news surfaced that Japanese shareholder Mitsubishi UFJ Financial Group has sold its entire 4.6% stake in CIMB Group Holdings Bhd.

The research house said investors also stayed cautious ahead of the FOMC monetary policy statement.

"As widely expected, the US Fed kept the rate unchanged but expects to hike rates again sometime this year.

"The Fed will also start to shrink its US$4.5 trillion balance sheet in October.

"Today, the local market is likely to be subdued ahead of the long weekend as well as the German Federal elections which will be held on Sept 24.

"Resistance: 1,780 & 1,793. Support: 1,757 & 1,741," it said.