KUALA LUMPUR (Oct 7): The FBM KLCI pared some of its gains to trade range bound and remain at a four-year low at the midday break today as selling momentum stays intact.

At 12.30pm, the FBM KLCI was up 0.84 points to 1,558.51. The index had earlier risen to a high of 1,560.37.

Gainers and losers were tied at 258 each, while 479 counters traded unchanged. Volume was 1.18 billion shares valued at RM629.38 million.

The gainers included Malaysian Pacific Industries Bhd, United Plantations Bhd, Unisem (M) Bhd, KESM Industries Bhd, Allianz Malaysia Bhd, Magni-Tech Industries Bhd, Tenaga Nasional Bhd, Guan Chong Bhd and Batu Kawan Bhd.

The actives included SDS Group Bhd, Sapura Energy Bhd, Sumatec Resources Bhd, Green Packet Bhd, MNC Wireless Bhd and Bumi Armada Bhd.

The decliners included Fraser & Neave Holdings Bhd, Ajinomoto (M) Bhd, Petronas Chemicals Group Bhd, Nestle (M) Bhd, Mulpha International Bhd and Ayer Holdings Bhd.

Asian shares edged higher on Monday after data showed the US unemployment rate dropped to the lowest in almost 50 years, easing concerns of a slowdown in the world's largest economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.18%. Australian shares were up 0.5%. Japan's Nikkei stock index opened higher but reversed course and fell 0.3%, it said.

Affin Hwang Capital Research said the FBM KLCI Index ended last week on a sour note, dropping 6.5 points or 0.41% on Friday, closing at 1,557.7.

"New wave of downward movement is currently in progress. Selling momentum remains strong, indicated by the consecutive formation of huge bearish candlesticks.

"However, note that key indicators, namely RSI (relative strength index) & Stochastic are now trading in oversold regions.

"Anticipate the index to resume its downward movement," it said.