KUALA LUMPUR (March 30): The FBM KLCI retreated at the midday break as selling activity outpaced the buying and index-linked bank stocks fell.

At 12.30pm, the FBM KLCI fell 3.48 points to 1,746.93.

Losers led gainers by 403 to 334, while 391 counters traded unchanged. Volume was 1.62 billion shares valued at RM1.02 billion.

The top losers included DanaInfra Nasional Bhd, Batu Kawan Bhd, Genting Malaysia Bhd, Aeon Credit Service (M) Bhd, AMMB Holdings Bhd, UEM Edgenta Bhd, Malaysia Airports Holdings Bhd, Genting Bhd, UMW Holdings Bhd, Malayan Banking Bhd and RHB Bank Bhd.

The actives included Trive Property Group Bhd, SKH Consortium Bhd, Zelan Bhd, Technodex Bhd, Olympia Industries Bhd and KNM Group Bhd.

The gainers included Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, Scientex Bhd, Heineken Malaysia Bhd, Petronas Dagangan Bhd, Quality Concrete Holdings Bhd, Malton Bhd, Axiata Group Bhd and KESM Industries Bhd.

Asian shares edged up to near their highest in two years on Thursday, while the US dollar benefited from waning expectations that the European Central Bank was poised to end its easy policy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.2% higher in early trade, pushing against its loftiest levels since June 2015, it said.

Kenanga IB Research said despite starting off yesterday's session with a buoyant mood amid strong overnight Wall Street performance, the FBM KLCI failed to sustain the momentum as it underwent profit-taking activities to dip 4.01 points or 0.23% to close lower at 1,750.41.

It said on the chart, the FBM KLCI failed to cross over the 1,760 (R1) hurdle and subsequently dipped further south to close just above the 1,750 (S1) mark.

"While the MACD continued on its flattish display, the daily relative strength index and Stochastic remain toppish to hint that the benchmark index would need to take further breather to neutralise its overbought condition.

"From here, we opine that the FBM KLCI is likely to vacillate within the 1,740–1,760 mark for the remainder of this week.

"Resistance levels are now capped at 1,760 (R1)/1,774 (R2), while supports are tied at 1,750 (S1)/1,740 (S2)," it said.