KUALA LUMPUR: The benchmark FBM KLCI slipped into the red at the midday break on Friday, Dec 11 in quiet trade as volume declined due to lack of fresh positive leads to attract investors. Genting, CIMB and KL Kepong were the main decliners in the 30-stock index.

Negative news from LCL following the default in its payment of RM72 million to two banks saw the share coming under pressure. CIMB Equities Research had a target price of 25 sen and maintained its underperform call on the stock.

At midday, the FBM KLCI fell 1.51 points to 1,258.39. Turnover was only 256.63 million shares valued at RM271 million. There were 190 gainers, 255 losers and 239 stocks unchanged.

All key regional markets were higher, with Japan's Nikkei 225 up 1.51% to 10,012.08, Hong Kong's hang Seng Index added 1.7% to 22,063.81, Singapore's Straits Times Index edged up 0.6% to 2,797.32 while Shanghai's Composite Index advanced 0.19% to 3,260.41.

Light crude oil rose 38 cents to US$70.92, US spot gold added US$3.63 to US$1,134.63 and crude palm oil futures inched up RM2 to RM2,522.

At Bursa, among the 30-stock FBM KLCI, Genting fell six sen to RM7.03, CIMB and Public Bank two sen each to RM12.84 and RM10.96 while MISC gave up four sen to RM8.74. KL Kepong shed eight sen to RM15.52 and Tenaga one sen to RM8.39.

LCL fell 9.5 sen to 22.5 sen with 26.8 million shares done as investors worried about the loan default. NPC fell 12 sen to RM1.85 and PLB 7.5 sen to 84.5 sen.

However, DiGi rose six sen to RM21.30 and BAT four sen to RM42.76. Nestle rose 20 sen to RM32.70.

Petra Energy rose six sen to RM1.86 after a 25% block crossed at RM1.91 each, indicating Petra Perdana could have disposed of its stake in the former.

Affin stayed in focus, rising 12 sen to RM2.46 while Affin-WC was up four sen in active trade and Affin-CA added four sen also to 19 sen.