KUALA LUMPUR (July 30): The FBM KLCI fell 0.64% at the midday break today as shares in index-linked banking stocks succumbed to the targeted moratorium plan, with Malayan Banking Bhd (Maybank) and Public Bank Bhd leading the declines.

At 12.30pm, the FBM KLCI fell 10.24 points to 1,601.18.

Losers led gainers by 343 to 326, while 682 counters traded unchanged. Trading volume was 6.76 billion shares valued at RM2.96 billion.

The top losers included Nestle (Malaysia) Bhd, Maybank, Public Bank, Hong Leong Financial Group Bhd, BIMB Holdings Bhd, CIMB Group Holdings Bhd, RHB Bank Bhd, Maxis Bhd, Can-One Bhd, CSC Steel Holdings Bhd and Cypark Resources Bhd.

The actively traded stocks included Lambo Group Bhd, Priceworth International Bhd, XOX Bhd, Borneo Oil Bhd, Sapura Energy Bhd, Pegasus Heights Bhd and LKL International Bhd.

The gainers included Malaysian Pacific Industries Bhd, Mega First Corp Bhd, Supermax Corp Bhd, Careplus Group Bhd, ViTrox Corp Bhd, Ajinomoto (Malaysia) Bhd, Adventa Bhd, Rubberex Corp (M) Bhd and Comfort Gloves Bhd.

Reuters said Asian stocks were boosted by the promise of ultra-easy monetary policy globally as the US Federal Reserve (Fed) left interest rates near zero to support the country's virus-battered economy, sending the dollar to a two-year trough.

All Fed members voted to leave the target range for short-term rates between 0% and 0.25%, where it has been since March 15 when the virus was beginning to hit the nation, it said.

Hong Leong IB Research said ahead of the long weekend break (Hari Raya Haji holiday tomorrow) that trading sentiment is likely to turn cautious today, given nagging concerns over subdued fundamentals such as tit-for-tat actions between the US and China, fluid domestic politics, rising new daily coronavirus cases and expectations of worsening reported numbers for the second quarter of 2020 (both gross domestic product and corporate results).

"Technically, a successful breakout above 1,618 (July 29 high) neckline resistance would spur index higher towards 1,633-1,645 zones whilst a sharp fall below 1,563 would trigger further selldown at 1,530-1,550 territory," it said.