KUALA LUMPUR (July 16): The FBM KLCI eased at the midday break after a short-lived rebound on Monday, and dipped 0.31% against the backdrop of firmer regional markets.

At 12.30pm, the FBM KLCI was down 5.17 points to 1,667.20. Most of the indices were also in the red.

Losers led gainers by 333 to 220, while 560 counters traded unchanged. Volume was 1.76 billion shares valued at RM945.6 million.

The losers included Fraser & Neave Holdings Bhd, Nestle (M) Bhd, Tenaga Nasional Bhd, Kuala Lumpur Kepong Bhd, Magni-Tech Industries Bhd, ViTrox Corp Bhd and Cycle & Carriage Bintang Bhd.

The actives included Ekovest Bhd, Bumi Armada Bhd, NetX Holdings Bhd, Iskandar Waterfront City Bhd, KNM Group Bhd, Impiana Hotels Bhd and Vsolar Group Bhd.

The gainers included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Carlsberg Brewery Malaysia Bhd, Malaysian Pacific Industries Bhd, LPI Capital Bhd, Heineken Malaysia Bhd, Dialog Group Bhd, Serba Dinamik Holdings Bhd and Southern Steel Bhd.

Most Southeast Asian stock markets rose on Tuesday on expectations of further monetary policy easing by global central banks, while concerns over palm oil exports to the European Union weighed on Malaysian shares, according to Reuters.

Singapore shares added as much as 0.4% ahead of key non-oil domestic exports (NODX) data due on Wednesday, it said.

Affin Hwang Capital Research said the FBM KLCI Index gained 2.92 points or 0.17% in yesterday's session, closing at 1,672.37.

"Market breadth was negative with 375 gainers as compared to 469 losers despite a gain seen in the index.

"Trading volume was at 3.01 billion shares while value traded stands at RM1.65 billion.

"It seems that our local market is ignoring bullish sentiments seen especially in the US market which shows a lethargic local market and losing risk appetite amongst investors.

"Hence, any near-term rebound to be short lived. Anticipate the index to move sideways with downward bias," it said.