KUALA LUMPUR (Dec 19): The FBM KLCI remained in negative zone at the midday break today as some mild profit-taking weighed on the local benchmark index.

At 12.30pm, the FBM KLCI fell 2.54 points to 1,635.25. The index had earlier dipped to its intra-morning low of 1,630.34.

Losers led gainers by 314 to 269, while 285 counters traded unchanged. There were 689.29 million shares valued at RM508.73 million traded.

The top losers included Shangri-La Hotels (Malaysia) Bhd, Public Bank Bhd, Genting Plantations Bhd, Metrod Holdings Bhd, Axiata Group Bhd, Prolexus Bhd and Daiman Development Bhd.

The actives included Hibiscus Petroleum Bhd, Rhone Ma Holdings Bhd, KNM Group Bhd, RGB International Bhd, Trive Property Group Bhd, Gadang Holdings Bhd and AirAsia X Bhd.

The top gainers included British American Tobacco (Malaysia) Bhd, Batu Kawan Bhd, Rhone Ma, Panasonic Manufacturing Malaysia Bhd, PPB Group Bhd, Hong Leong Industries Bhd and Top Glove Corp Bhd.

Asian shares steadied near four-week lows on Monday after China agreed to return the US drone it had seized, easing worries for now about possible deterioration in diplomatic relations, according to Reuters.

But with expectations of US President-elect Donald Trump's policies lifting US interest rates and the dollar, shares in many emerging markets are likely to remain vulnerable to possible capital outflows, it said.

Kenanga IB Research said mild profit-taking was seen last week ahead of the extended weekend, but the positive view remains intact.

It said the FBM KLCI ended lower on Friday as investors took profits on blue chips ahead of the holiday-extended weekend.

The research house said at market close, the benchmark index was down 2.33 points (0.14%) at 1,641.42.

"Sentiment on the broader market was stronger with 413 gainers outnumbering 306 decliners and 366 counters traded unchanged.

"From a charting perspective, the FBM KLCI remains positively biased in the near term. Both the MACD and RSI indicators have broken their downtrend to signal a gradual pick-up in sentiment.

"At the same time, Friday's candlestick also reflects investors' willingness to enter on dips, as evidenced by the long shadow. From here, key resistance levels to monitor are 1,650 (R1) and 1,680 (R2) while any return to the 1,632 (S1) resistance-turned-support can be viewed as a potential entry point," it said.