KUALA LUMPUR (Dec 18): The FBM KLCI reversed its earlier gains at mid-morning today, in line with the breather at regional markets, weighed by Petronas stocks and Tenaga Nasional Bhd.

At 10am, the FBM KLCI was down 1.89 points to 1,575.06. The index had earlier risen to a high of 1,579.35.

Losers led gainers by 248 to 234, while 284 counters traded unchanged. Volume was 622.07 million shares valued at RM310.23 million.

The losers included Dutch Lady Milk Industries Bhd, Petronas Gas Bhd, British American Tobacco (M) Bhd, Petronas Dagangan Bhd, Hong Leong Financial Group Bhd, Tenaga, QL Resources Bhd and Hap Seng Consolidated Bhd.

The actives included DGB Asia Bhd, Ekovest Bhd, Sapura Energy Bhd, i-Stone Group Bhd, FoundPac Group Bhd, Iskandar Waterfront City Bhd, Tiger Synergy Bhd, GDB Holdings Bhd and KNM Group Bhd.

The gainers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, KESM Industries Bhd, Heineken Malaysia Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, Amway (M) Holdings Bhd and Top Glove Corp Bhd.

Reuters reported that Asian stocks took a breather at 18-month peaks on Wednesday having climbed for five straight sessions, while the British pound was licking its wounds as revived Brexit fears came back to bite it.

MSCI's broadest index of Asia-Pacific shares outside Japan was dead flat in thin early trade, just off its highest since June last year, it said.

Hong Leong IB Research said it expects positive sentiment to persist at least for the near term on Wall Street amid the trade optimism after both the US and China agreed to a phase one trade deal (awaiting sign off in January).

"Hence, we anticipate the Dow to trend higher over the near term with the trading range located around 28,000-28,500.

"On the local front, we remain optimistic that the FBM KLCI to trade on a recovering trend on the back of traditional window dressing activities as well as optimism on the trade front.

"Market participants could focus on technology sector on the back of a phase one trade resolution.

"Meanwhile, Bandar Malaysia theme could spur trading activities within construction and building materials (precast concrete and steel). The FBM KLCI's trading range is set along 1,548-1,600," it said.