KUALA LUMPUR (Sept 11): The FBM KLCI pared some of its loss in the mid-morning today, but remained in the negative zone in line with regional markets.

At 10am, the KLCI was down 4.31 points at 1,485.81. The index earlier fell to a low of 1,477.47.

Gainers edged losers by 387 to 380, while 399 counters traded unchanged. Trading volume was 2.05 billion shares valued at RM1.34 billion.

The top losers included Panasonic Manufacturing Malaysia Bhd, Petronas Dagangan Bhd, PPB Group Bhd, Tenaga Nasional Bhd (TNB), Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd and CE Technology Bhd.

The actively traded stocks included Borneo Oil Bhd, XOX Bhd, Pegasus Heights Bhd, Parlo Bhd, Top Glove Corp Bhd, Careplus Group Bhd, JCY International Bhd, Nova MSC Bhd and Dynaciate Group Bhd.

The top gainers included Supermax Corp Bhd, Top Glove, Rubberex Corp (M) Bhd and Careplus.

Bloomberg said Asian stocks headed for a second week of losses today as a fresh sell-off of US mega-cap technology shares highlighted lingering concerns over valuations of certain pockets of the market.

Treasuries and the US dollar were steady, it reported.

JF Apex Securities Research said US markets declined overnight as the selldown of technology counters continued and jobless claims data was worse than expected.

It said that earlier, European stocks tumbled after the European Central Bank (ECB) kept its interest rates unchanged.

“On the local market, the FBM KLCI lost 6.60 points to 1,490.12 points.

“Following the bearish performances in the US and Europe, the FBM KLCI remained pressured with support at 1,475 points,” it said.