KUALA LUMPUR (Nov 15): The FBM KLCI stayed lacklustre and was rooted below the 1,600-point level as domestic sentiment remained fragile.

Investor sentiment was further dampened as Malaysia's GDP in the third quarter of 2019 slowed to 4.4% year-on-year, after posting a 4.9% growth in the second quarter of the year.

At 12.30pm, the FBM KLCI was up 0.35 points to 1,593.9.

Losers led gainers by 308 to 268, while 518 counters traded unchanged. Volume was 1.55 billion shares valued at RM756.41 million.

The gainers included PPB Group Bhd, Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, IHH Healthcare Bhd, Batu Kawan Bhd, Lysaght Galvanized Steel Bhd, Pasdec Holdings Bhd and United Malacca Bhd.

The actives included Sapura Energy Bhd, Bumi Armada Bhd, Priceworth International Bhd, DGB Asia Bhd, i-Stone Group Bhd, IFCA MSC Bhd and Velesto Energy Bhd.

The decliners included Petronas Dagangan Bhd, Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd, LPI Capital Bhd, Nestle (M) Bhd and Westports Holdings Bhd.

Asian stocks jumped on Friday, propelled by a record S&P 500 finish and White House comments suggesting Washington and Beijing were close to striking a trade deal, reviving hopes the tariff war may near an end, according to Reuters.

However, analysts said investor sentiment remained fragile after weak data from China reinforced concerns about the global economy and amid increasing caution about false signs of progress in Sino-US trade talks, it said.

Affin Hwang Capital Research said the FBM KLCI Index fell in yesterday's session, dropping 3.67 points or 0.23%, closing at 1,593.55.

It said the index continued to retrace in yesterday's trading session, indicating potential fresh selling coming into play.

"Looking at technical indicators on the daily chart: 1) MACD (moving average convergence divergence) is steadily converging towards the Signal line, 2) RSI (relative strength index) & Stochastic exiting overbought territories, now showing signs of pointing downwards.

"All of these points towards a downward reversal signal as upside is perceived to be limited," it said.