KUALA LUMPUR (Sept 13): The FBM KLCI reversed its earlier gains and dipped 0.17% at mid-morning today, weighed by select blue chips as sentiment turned bearish.

At 10am, the FBM KLCI dipped 2.71 points to 1,598.29. The index had earlier risen to a high of 1,603.68.

Losers overtook gainers by 205 to 185, while 278 counters traded unchanged. Volume was 470.44 million shares valued at RM180.46 million.

The losers included Dutch Lady Milk Industries Bhd, Hong Leong Financial Group Bhd, Westports Holdings Bhd, APM Automotive Holdings Bhd, Digi.Com Bhd and IHH Healthcare Bhd.

The actives included i-Stone Group Bhd, MNC Wireless Bhd, Vsolar Group Bhd, Priceworth International Bhd, Bumi Armada Bhd, Iris Corp Bhd and Hubline Bhd.

The gainers included British American Tobacco (M) Bhd, United Plantations Bhd, KESM Industries Bhd, Petronas Dagangan Bhd, Magni-Tech Industries Bhd, Pentamaster Corp Bhd, Mulpha International Bhd and Scientex Bhd.

Asian stocks advanced on Friday as hints of progress in the US-China trade dispute and aggressive stimulus from the European Central Bank (ECB) helped to counter worries about a global economic slowdown, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.2%, while Japan's Nikkei rose 0.4%, it said.

Kenanga IB Research said Asian stocks ended mixed as investors are waiting for announcement from the ECB on its stimulus plan.

It said back home, the FBM KLCI lost 1.3 points or 0.08% to close at 1,601 after Bank Negara Malaysia announced it is keeping the OPR rate at 3%.

"Chart-wise, the underlying trend of the index remains bearish as the index remains below 50- and 100-day SMAs (simple moving averages), due to lack of market catalyst.

"Should the selling pressure persist, key support levels can be seen at 1,570 (S1) and 1,550 (S2). Conversely, overhead resistance levels can be found at 1,630 (R1) and 1,650 (R2)," it said.