KUALA LUMPUR (Sept 18): The FBM KLCI fell in some mild profit taking at mid-morning today in line with the retreat at most regional markets.

At 10am, the FBM KLCI shed 2.94 points to 1,678.60.

The top losers included Hong Leong Financial Group Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Kossan Rubber Industries Bhd, Apex Healthcare Bhd, Petronas Chemicals Group Bhd, Karex Bhd, MBM Resources Bhd, Maxis Bhd, IOI Corporation Bhd and IJM Corporation Bhd.

The actively traded stocks included Aemulus Holdings Bhd, IFCA MSC Bhd, Globaltec Technology Bhd, Tiger Synergy Bhd, Bumi Armada Bhd, Perisai Petroleum Teknologi Bhd, Sumatec Resources Bhd, Felda Global Ventures Holdings Bhd and KNM Group Bhd.

The top gainers included Petronas Gas Bhd, AirAsia Bhd, Westports Holdings Bhd, DKSH (M) Holdings Bhd, Eco World Development Group Bhd, PPB Group Bhd, Petronas Dagangan Bhd and Lii Hen Industries Bhd.

Asian shares are likely to fall on Friday after the US Federal Reserve held off on raising interest rates, reviving concerns about global economic weakness, according to Reuters.

The dollar was on back foot, having fallen more than 1% after the Fed's decision while US bond yields plunged, erasing their sharp rises in the past couple of days, it said.

Hong Leong IB Research said although the FBM KLCI may continue to inch higher in the near term, supported by SEC measures to stabilise stock market and safeguard economic growth, the potential of further strong rally has reduced as indicators are entering overbought levels, following a 11.8% or 178-point rally since plunging to a 3½ low of 1,504 on 24 Aug.

“Short-term key resistances are 1,700–1,710 whilst supports fall on 1,624–1,652 zones,” it said.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)