KUALA LUMPUR (May 23): The FBM KLCI fell at the midday break as sellers outpaced buyers, following the sentiment turning weak after the UK was rattled by a possible terror strike.

At 12.30pm, the FBM KLCI dipped 3.72 points to 1,771.23. The index had started the day higher before reversing its gains. It had risen to its intra-morning high of 1,777.23.

Losers hammered gainers by 627 to 248, while 307 counters traded unchanged. Volume was 1.54 billion shares valued at RM1.12 billion.

The top losers included Petronas Gas Bhd, British American Tobacco (M) Bhd, Malaysian Pacific Industries Bhd, UMS Holdings Bhd, Lafarge Malaysia Bhd, Tasek Corporation Bhd, Petron Malaysia Refining & Marketing Bhd, Kossan Rubber Industries Bhd and Hong Leong Financial Group Bhd.

The actives included Luster Industries Bhd, AirAsia X Bhd, Globaltec Formation Bhd, Priceworth International Bhd, Dagang NeXchange Bhd, Visdynamics Holdings Bhd, Tiger Synergy Bhd and NetX Holdings Bhd.

The gainers included Bursa Malaysia Bhd, ViTrox Corporation Bhd, Batu Kawan Bhd, Visdynamics, Selangor Properties Bhd, Malaysia Airports Holdings Bhd, Serba Dinamik Holdings Bhd and Toyo Ink Group Bhd.

Sterling extended losses on Tuesday after a suspected terrorist attack killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester, while the euro held gains made after German Chancellor Angela Merkel said the currency was "too weak, according to Reuters.

The explosion, at a concert by U.S. singer Arianna Grande, took place just two-and-a-half weeks before an election that Prime Minister Theresa May is expected to win easily, though polls showing that the contest was tightening added to sterling's woes, it said.

Kenanga IB Research said the FBM KLCI chalked up 6.67 points (0.377%) to close marginally higher at 1,774.95 yesterday in tandem with the climb of most regional markets.

It said the short-term uptrend is still intact given that the FBM KLCI is reversing from its channel support line of 1,760 (S1) while trending above all its key moving averages.

“Nonetheless, with the daily RSI and Stochastic tapering off to hint lacklustre buying momentum, the key index could look to continue to be caught range bound this week.

“All in, we continue to expect the FBM KLCI to trade within 1,760 (S1)-1,784 (R1) this week albeit on a mild upside-bias note.

“The next level of resistance and support is found at 1,800 (R2)/1,743 (S2), respectively,” it said.