KUALA LUMPUR (July 5): The FBM KLCI remained in negative zon eat mid-morning today, weighed by select blue chips despite the firmer regional markets.

At 10.05am, the FBM KLCI was down 3.33 points to 1,684.15.

Losers led gainers by 285 to 204, while 291 counters traded unchanged. Volume was 698.89 million shares valued at RM260.36 million.

The decliners included Kuala Lumpur Kepong Bhd, British American Tobacco (M) Bhd, Tenaga Nasional Bhd, Ajinomoto (M) Bhd, Negri Sembilan Oil Palms Bhd, Hap Seng Consolidated Bhd, Rapid Synergy Bhd and Utusan Melayu (M) Bhd.

The actives included KNM Group Bhd, Green Packet Bhd, Orion IXL Bhd, Sumatec Resources Bhd, Iris Corp Bhd, Diversified Gateway Solutions Bhd and ARB Bhd.

The gainers included KESM Industries Bhd, Yinson Holdings Bhd, UEM Edgenta Bhd, Hai-O Enterprise Bhd, Texchem Resources Bhd, Daibochi Bhd and Sime Darby Plantations Bhd.

Asian shares hovered near two-month highs on Friday, holding recent gains as investors awaited U.S. employment data, a key release that could make or break market expectations about aggressive policy easing by the Federal Reserve, according to Reuters.

Trade in global markets is expected to remain subdued following the Independence Day U.S. public holiday on Thursday and ahead of the non-farm payrolls report, it said.

Hong Leong IB Research said on Wall Street, the uptrend could sustain given the recent resumption of trade discussions between the US and China.

“Also, the recent increased expectations on a potential interest rate cut by the Fed could lift the market sentiment, at least for the near term. The Dow may range bound between 26,500-27,500.

“We believe sentiment on the local front may continue to stay sideways as the key index is overbought and the Brent oil prices have turned weaker, which is likely for market participants to take profit amongst O&G stocks that have rebounded recently.

“Nevertheless, traders may look into poultry-related and IT-related stocks as we noticed volumes have been picking up throughout the past week,” it said.