KUALA LUMPUR (Dec 11): The FBM KLCI ticked higher and erased earlier losses at mid-morning today, lifted by select blue chips including Top Glove Corp Bhd and Malaysia Airports Holdings Bhd (MAHB).

At 10am, the FBM KLCI added 0.31 points to 1,562.1. The index had dipped to a low of 1,558.76.

Losers edged gainers by 240 to 221, while 281 counters traded unchanged. Volume was 471.19 million shares valued at RM234.73 million.

The top gainers included Quality Concrete Holdings Bhd, LPI Capital Bhd, QL Resources Bhd, PPB Group Bhd, KESM Industries Bhd, MAHB, Batu Kawan Bhd, Press Metal Aluminium Holdings Bhd and Top Glove.

The actives included AT Systemazition Bhd, WCE Holdings Bhd, Solarvest Holdings Bhd, DGB Asia Bhd, NetX Holdings Bhd and FoundPac Group Bhd.

The losers included Panasonic Manufacturing Malaysia Bhd, Petronas Dagangan Bhd, United Plantations Bhd, British American Tobacco (M) Bhd, Ajinomoto (M) Bhd, Bermaz Auto Bhd, IOI Corp Bhd, Hap Seng Plantations Bhd, Tenaga Nasional Bhd and Hong Leong Bank Bhd.

Reuters reported that Asian stocks flatlined on Wednesday as Sino-US trade talks approached a weekend deadline with little sign of progress, while a tightening of the UK election race knocked the pound.

Investors are beginning to suspect that even if US tariffs due to take effect on Sunday are delayed, it may be 2020 before Washington and Beijing can agree a broader rapprochement, it said.

Hong Leong IB Research said in the US, market participants will be holding back and staying on the sidelines until further clarity on the widely anticipated phase one trade deal.

"However, as we are heading nearer towards the scheduled tariffs on Dec 15, it may attract profit-taking activities. The Dow's upside could be limited for now and resistance is set along 28,200, while support is anchored around 27,400.

"Despite the tepid performance from Wall Street overnight, coupled with mixed technical readings on FBM KLCI, we believe the downside risk could be limited as we opine the window-dressing activities may emerge and support the KLCI at least for the near term.

"Hence, KLCI's trading range will be located around 1,550-1,580. In addition, traders could monitor several sectors such as construction, building materials and plastic-related stocks for trading opportunities as volumes have picked up significantly," it said.