KUALA LUMPUR (Jan 14): The FBM KLCI fell 0.39% at mid-morning today on some profit-taking activities, against the backdrop of mixed regional markets.

At 10.10am, the FBM KLCI fell 6.7 points to 1,676.52.

Losers led gainers by 287 to 221, while 269 counters traded unchanged. Volume was 747.99 million shares valued at RM271.61 million.

The losers included Time Dotcom Bhd, Petronas Chemicals Group Bhd, Malaysian Pacific Industries Bhd, Hong Leong Financial Group Bhd, Public Bank Bhd and Choo Bee Metal Industries Bhd.

The actives included Perisai Petroleum Teknologi Bhd, Sapura Energy Bhd, Hubline Bhd, Bumi Armada Bhd, Tatt Giap Group Bhd, Sino Hua-An International Bhd, KNM Group Bhd and Protasco Bhd.

The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Hong Leong Industries Bhd, Allianz Malaysia Bhd, Aeon Credit Service (M) Bhd and Perusahaan Sadur Timah Malaysia (Perstima) Bhd.

Asian stocks were mixed on Monday, following the best week for regional stocks since the start of November, as investors awaited a raft of earnings and the January rally in risk assets showed signs of abating. The yuan edged lower after recent gains, according to Bloomberg.

Shares in Australia advanced, while South Korean stocks dipped and futures indicated a small decline when equity trading begins in Hong Kong. US equity futures slipped after the S&P 500 on Friday closed flat and the yield on 10-year Treasuries declined. Japan is closed for a holiday, so Treasuries won't trade until the London open, the newswire said.

Hong Leong IB Research said the current rebound in stock markets could be due for volatility ahead of the upcoming reporting season this week.

The research house said market participants could be eyeing the federal government partial shutdown (dragged on into the 23rd day), stoking fears the shutdown could drag on for a long time as consensus estimates that every two weeks of a shutdown trims 0.1 percentage points from growth.

"Retracement supports are anchored around 23,500-23,800 while resistances fall on 24,000-24,300 zones.

"While we expect positive sentiment driven by progress in US-China trade talks, a dovish Fed (US Federal Reserve), stronger ringgit, and steadier oil prices and FCPO (crude palm oil futures) would continue to drive KLCI higher to retest 1,700 this week, profit-taking activities are likely to emerge, especially on the lower liners and penny stocks.

"Nevertheless, traders may continue to look out for rotational trading plays within the oil and gas, construction, property, automotive, industrial and airlines sectors amid strengthening ringgit and steady oil prices. Stiff resistances are 1,700-1,710 while supports fall on 1,660-1,666," it said.