KUALA LUMPUR (Jan 14): The FBM KLCI fell 0.43% at the midday break today, in line with the retreat at most regional markets, following the drop in China's imports.

At 12.30pm, the FBM KLCI fell 7.28 points to 1,675.94.

Losers led gainers by 419 to 266, while 292 counters traded unchanged. Volume was 1.25 billion shares valued at RM552.61 million.

The losers included Dutch Lady Milk Industries Bhd, Petronas Chemicals Group Bhd, Malaysian Pacific Industries Bhd, Time Dotcom Bhd, Fraser & Neave Holdings Bhd, Malayan Banking Bhd, Public Bank Bhd and Petronas Gas Bhd.

The actives included Perisai Petroleum Teknologi Bhd, Sapura Energy Bhd, Hubline Bhd, Tatt Giap Group Bhd, Bumi Armada Bhd, Protasco Bhd and My EG Services Bhd.

The gainers included Nestle (M) Bhd, Amway (M) Holdings Bhd, Mega First Corp Bhd, Hong Leong Industries Bhd, UMW Holdings Bhd and MISC Bhd.

Asian shares and US stock futures skidded on Monday after a shock contraction in Chinese exports pointed to deepening cracks in the world's second-biggest economy and raised fears of a sharper slowdown in global growth and corporate profits, according to Reuters.

Latest data from China showed imports fell 7.6% year-on-year in December when analysts had predicted a 5% rise while exports unexpectedly dropped 4.4%, confounding expectations for a 3% gain, the newswire said.

Affin Hwang Capital Research said the FBM KLCI Index ended last week slightly higher, gaining 4.34 points or 0.26%.

The research house said the index is now hovering just below the upper-end of the consolidation range.

"Observe price action today whether prices will be able to breach through and maintain an upwards movement.

"Technical indicators on the daily chart, namely MACD (moving average convergence divergence), RSI (relative strength index) and Stochastic are all heading north which is positive for the index.

"Consolidation in the index likely to happen moving through the week amidst the lack of fresh catalysts," it said.