KUALA LUMPUR (Nov 26): The FBM KLCI settled 0.32% lower at the midday break today as local investor sentiment remained wary despite the modest recovery at regional markets.

At 12.30pm, the FBM KLCI fell 5.36 points to 1,690.52.

Losers led gainers by 435 to 249, while 297 counters traded unchanged. Volume was 955.6 million shares valued at RM537.65 million.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Dufu Technology Corp Bhd, Cahya Mata Sarawak Bhd, Kuala Lumpur Kepong Bhd, Tasek Corp Bhd, Ornapaper Bhd and Sime Darby Bhd.

The actives included Orion IXL Bhd, My EG Services Bhd, Hibiscus Petroleum Bhd, Tatt Giap Group Bhd, Seacera Group Bhd, Tiger Synergy Bhd, Dayang Enterprise Holdings Bhd and Prestariang Bhd.

The gainers included Heineken Malaysia Bhd, AirAsia Group Bhd, United Plantations Bhd, Can-One Bhd, Petronas Dagangan Bhd, Maxis Bhd, Hong Leong Industries Bhd and Malaysian Pacific Industries Bhd.

Asian stocks and US equity futures posted modest gains on Monday on hopes of solid US holiday sales, though plunging oil prices fanned worries about a dimming outlook for the global economy, according to Reuters.

Investors were also cautious before US and Chinese leaders meet for crucial talks at the end of the week as trade tensions between the economic superpowers showed no signs of easing, it said.

Kenanga IB Research said Asian stock markets slipped last Friday as uncertainties surrounding the UK-EU negotiations and heightened US-China tensions caused investors to remain cautious.

It said back home, the FBM KLCI inched up slightly by 0.26 points or 0.02% to close at 1,695.88, bringing week-on-week loss to 0.62%.

"The technical outlook remains bearish as the index is still hovering below key SMAs, coupled with lacklustre signals from key momentum indicators.

"From here, immediate support levels to watch for are 1,680 (S1) and 1,650 (S2). Should market sentiment improve from here, key levels of resistances to look for are at 1,740 (R1) and 1,760 (R2)," it said.