KUALA LUMPUR (Sept 8): The FBM KLCI fell 0.39% at the midday break today, dragged by losses at Petronas-linked and Genting-related stocks.

At 12.30pm, the FBM KLCI lost 7.06 points to 1,775.92.

Losers led gainers by 321 to 278, while 495 counters traded unchanged. Volume was 1.74 billion shares, valued at RM925.75 million.

The top losers included British American Tobacco (M) Bhd, Bursa Malaysia Bhd, Petronas Gas Bhd, KESM Industries Bhd, Hong Leong Financial Group Bhd, Ajinomoto (M) Bhd, Petronas Dagangan Bhd, CIMB Group Holdings Bhd, United Plantations Bhd, Genting Bhd and Genting Malaysia Bhd.

The actives included Sino Hua-An International Bhd, PUC Bhd, JAG Bhd, Palette Multimedia Bhd, PDZ  Holdings Bhd, China Stationery Ltd, Mlabs Systems Bhd, AT Systermization Bhd and Nexgram Holdings Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Panasonic Manufacturing Malaysia Bhd, Scientex Bhd, Nestle (M) Bhd, Mega First Corp Bhd, SAM Engineering & Equipment Bhd, Lotte Titan Chemical Holding Bhd, Kuala Lumpur Kepong Bhd and Southern Steel Bhd.

Asian shares firmed on Friday, supported by solid Chinese trade data, while the dollar skidded after European Central Bank chief Mario Draghi suggested the central bank may begin tapering its massive stimulus programme this autumn, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% and was set for a 0.2% gain for the week, Reuters said.

Kenanga IB Research said the FBM KLCI ended 10.5 points (+0.59%) higher at 1,782.98, with British American Tobacco (M) Bhd, Astro Malaysia Holdings Bhd and CIMB Group Holdings Bhd among the top gainers.

It said the broad market depicted an improvement in sentiment as 533 gainers outpaced 317 losers, while 387 counters traded unchanged.

The research house said from the intra-day chart, the FBM KLCI traded range-bound between 1,772-1,776 for the most part of the day, before an eleventh hour push towards the closing trade.

It said trading volume increased and as a result, the key index formed a long white candlestick with no upper shadow — indicating the bulls were able to dominate the session towards the closing bell.

“Despite mostly neutral readings from indicators, the previous two days' bullish moves reflect an increase in investors’ willingness to enter the fray.

“Notably, the FBM KLCI is now in the midst of testing the 1,783 (R1) resistance level, where a decisive breakout above this level would be crucial to influence follow-through buying.

“Once taken out, the next resistance level to target is 1,789 (R2) further up. Downside support levels in the meantime remain unchanged at 1,760 (S1) and 1,750 (S2) below,” it said.