KUALA LUMPUR (Jan 15): The FBM KLCI extended its consolidated phase at mid-morning Wednesday, against the backdrop of steady regional markets.

At 10.05am, the FBM KLCI fell 4.36 points to 1,576.24.

Losers edged gainers by 229 to 224, while 334 counters traded unchanged. Volume was 652.68 million shares valued at RM231.52 million.

The top losers included Petronas Dagangan Bhd, Tenaga Nasional Bhd, KESM Industries Bhd, Aeon Credit Service (M) Bhd, Nestle (M) Bhd and Ekovest Bhd.

The actives included Vortex Consolidated Bhd, TH Heavy Engineering Bhd, London Biscuits Bhd, Yong Tai Bhd, Tiger Synergy Bhd, TDM Bhd and Datasonic Group Bhd.

The gainers included Public Bank Bhd, Datasonic, Sarawak Oil Palms Bhd, Apex Healthcare Bhd, LPI Capital Bhd and Kumpulan Powernet Bhd.

Reuters said stocks were steady in early Asian trade on Wednesday as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by the US Treasury Secretary's comments that tariffs would remain in place for now.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.13%, Japan's benchmark Nikkei and South Korea's Kospi shed 0.29% and 0.48%, respectively, while Australian stocks added 0.33%, it said.

Hong Leong IB Research said in the US, the Dow's uptrend is fairly intact amid fading US-Iran geopolitical tensions and the impending US-China Phase 1 trade deal signing, coupled with the news on China's removal from a list of currency manipulating countries.

"Barring any negative surprises from the trade deal details and the start of January reporting season (for 4Q19 results) this week, we remain optimistic the Dow [will] advance towards 29,500-30,000 territory in the next few weeks, with support set around 28,000-28,300 levels.

"We see an extended KLCI consolidation as investors await more clarity on the US-China phase 1 trade pact outcome, apart from the long CNY holidays next week and expectation of another unexciting February reporting season.

"Key resistances fall at 1,600-1,614 whilst supports are near 1,566-1,572 levels," it said.