KUALA LUMPUR (June 11): The FBM KLCI pared down some of its losses at mid-morning and looked poised to claw into positive territory later in the morning.

At 10am, the FBM KLCI was down 1.37 points to 1,776.95. The index had earlier slipped to a low of 1,770.83.

Losers led gainers by 261 to 221, while 254 counters traded unchanged. Volume was 587.96 million shares valued at RM305.19 million.

The top losers included Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, LPI Capital Bhd, Hong Leong Industries Bhd, Malayan Banking Bhd and Perak Corp Bhd.

The actives included Cuscapi Bhd, My E.G. Services Bhd, GSB Group Bhd and UCrest Bhd.

The gainers included Dutch Lady Milk Industries Bhd, KESM Industries Bhd, Hong Leong Financial Group Bhd, Top Glove Corp Bhd, Allianz Malaysia Bhd, SAM Engineering & Equipment (M) Bhd, Malaysian Pacific Industries Bhd, Wang-Zheng Bhd and Cahya Mata Sarawak Bhd.

Asian stocks moved gingerly on Monday as a weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group's efforts to show a united front, according to Reuters.

Trump's reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling, it said.

Hong Leong IB Research in a traders' brief said tension in the G7 summit were seen escalating as Donald Trump withdrew support of joint G7 statement and left the meeting early for another summit in Singapore with Kim Jong Un.

"Canadian PM vowed to press ahead with retaliatory tariffs against the US on July 1. The extended trade war tension could lead to increased market volatility and may dampen the outlook of global growth.

"On the local bourse, trading sentiment may turn weak following the rising worries on trade war during the G7 summit.

"Domestically, investors are still looking for fresh catalyst from the Pakatan Harapan-led government after some of the mega projects were being axed and reviewed.

"Nevertheless, traders may look into opportunities within stocks which are oversold for a short rebound trade," it said.