KUALA LUMPUR (July 26): The FBM KLCI looked poised to end the week on a tepid note in line with regional markets as it dropped 0.31% at mid-morning Friday.

At 10am, the FBM KLCI was down 5.2 points to 1,651.38.

Losers led gainers by 329 to 186, while 273 counters traded unchanged. Volume was 662.5 million shares valued at RM405.08 million.

The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Hong leong Financial Group Bhd, Ajinomoto (M) Bhd, Heineken Malaysia Bhd, Hong Leong Bank Bhd, Aeon Credit Service (M) Bhd, Bursa Malaysia Bhd, PPB Group Bhd and MISC Bhd.

The actives included Green Packet Bhd, Genting Malaysia Bhd, Only World Group Bhd (OWG), Bumi Armada Bhd, Ekovest Bhd and Scomi Group Bhd.

The gainers included G3 Global Bhd, Allianz Malaysia Bhd, Genting Malaysia, MSM Malaysia Holdings Bhd, Genting Bhd, United Plantations Bhd, CI Holdings Bhd, OWG and MB World Group Bhd.

Asian share prices opened a tad lower on Friday on mixed US earnings reports, and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15% while Japan's Nikkei dipped 0.3%, it said.

Hong Leong IB Research said in the near term, all eyes remained focused on the ongoing reporting season and the resumption of US-China trade negotiations next week coupled with the crucial July 30-31 Federal Open Market Committee (FOMC) meeting.

"While most companies are beating revised-down estimates, the tone and substance of management commentary is on the cautious side, with uncertainty about global trade as notable headwind. We opine that the Dow to range bound within 26,800-27,400 zones.

"Given the weak Wall Street and European markets overnight as well as ahead of the two major events next week focusing on the resumption of trade talks in Shanghai and FOMC meeting (July 30-31), sentiment on the broader market could turn more cautious.

"Technically, we see an extended sideways pattern near the long term down trendline support of 1,648, with key barriers near 1,675-1,674 levels," it said.