KUALA LUMPUR (May 2): The FBM KLCI fell 0.33% at the midday break today against the backdrop of mixed regional markets, dragged by index-linked blue chips.

At 12.30pm, the FBM KLCI fell 5.44 points to 1,636.85.

Losers led gainers by 447 to 164, while 470 counters traded unchanged. Volume was 1.49 billion shares valued at RM870.92 million.

The top losers included United Plantations Bhd, Panasonic Manufacturing Malaysia Bhd, Tasek Corp Bhd, Genting Plantations Bhd, DiGi.Com Bhd, Petronas Gas Bhd, Fraser & Neave Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Hong Leong Financial Group Bhd and IJM Corp Bhd.

The actives included Lambo Group Bhd, Bumi Armada Bhd, Ekovest Bhd, ARB Bhd, Sapura Energy Bhd and Iskandar Waterfront City Bhd.

The gainers included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, British American Tobacco (M) Bhd, Hong Leong Industries Bhd, Rapid Synery Bhd, Ayer Holdings Bhd and Apollo Food Holdings Bhd.

Stocks in Asia were mixed as investors turned to US-China trade talks after Federal Reserve chairman Jerome Powell rejected the idea that an interest-rate cut is looming in the US and stuck with a neutral stance, according to Bloomberg.

In trading depressed by holidays in Japan and China, equity benchmarks in South Korea and Hong Kong hit their highs of the session after CNBC reported that the US and China could announce a trade deal as soon as next Friday, citing sources it didn't name. The yen ticked lower against the US dollar. Futures on 10-year Treasuries also edged down. Australia's stocks underperformed after the nation's biggest lender cut its dividend. On Wednesday, the S&P 500 Index posted its biggest decline in almost six weeks, the newswire said.

Affin Hwang Capital Research said the FBM KLCI Index was closed yesterday due to Labour Day. The index gained 4.89 points or 0.3% in Tuesday's session, closing at 1,642.29.

"The index has broken above the EMA20d (20-day exponential moving average). Technical indicators on the daily chart are suggesting that more upside can still be achieved.

"Moving forward, the index may look to retest key resistance around the 1,650-1,660 area which also coincides with the 50-day EMA.

"Nonetheless, overall bias still remains to the downside," the research firm said.