KUALA LUMPUR (March 7): The FBM KLCI reversed its earlier loss at mid-morning today but remained well below the 1,700-point level as technical indicators stayed bearish for the local index.

At 10am, the FBM KLCI added 2.81 points to 1,689.63. The index had earlier slipped to a low of 1,682.33.

Gainers led losers by 279 to 256, while 314 counters traded unchanged. Volume was 736.56 million shares valued at RM423.98 million.

The gainers included Carlsberg Brewery Malaysia Bhd, Dutch Lady Milk Industries Bhd, Hong Leong Financial Group Bhd, Tasek Corp Bhd, Lafarge Malaysia Bhd, Teck Guan Perdana Bhd, Hengyuan Refining Company Bhd, Merge Energy Bhd, BIMB Holdings Bhd and MKH Bhd.

The actives included Prestariang Bhd, My EG Services Bhd, Sino Hua-An International Bhd, Dynaciate Group Bhd, Lion Industries Bhd, JAKS Resources Bhd, Ekovest Bhd and Permaju Industries Bhd.

The decliners included British American Tobacco (M) Bhd, KESM Industries Bhd, Petronas Dagangan Bhd, Tong Herr Resources Bhd, PMB Technology Bhd, Petronas Gas Bhd and Hong Leong Bank Bhd.

Asian shares rose marginally in early trade on Thursday, with caution prevailing as investors awaited some kind of resolution to Sino-US trade negotiations, while the euro remained under pressure ahead of the European Central Bank meeting, according to Reuters.

Japan's Nikkei average fell 0.6%, while Australian shares added 0.2%, it said.

Hong Leong IB Research said with the lack of fresh catalysts globally, coupled with the still-uncertain trade developments as well as the weaker technical readings on the Dow, it anticipates Wall Street to extend its consolidation phase over the near term.

"Market participants could be looking towards commentary from ECB's President (Mario Draghi) on monetary policies later today.

"Despite the mild rebound yesterday on KLCI, we believe the sentiment may remain soft on the heavyweights, taking cues from Wall Street overnight.

"Nevertheless, we expect the small cap and lower liners to sustain its trading activities, especially within the O&G, Sarawak-related and selected semiconductor stocks as the momentum have been building up recently," it said.