KUALA LUMPUR (Feb 12): The FBM KLCI bucked the regional trend and closed flat at the midday break but overall sentiment was negative with losers outpacing gainers.

At 12.30pm, the benchmark index was up 1.19 points to 1,645.70. The index had slipped to its intra-morning low of 1,638.50.

Losers led gainers by 447 to 201, while 287 counters traded unchanged. Volume was 609.20 million shares valued at RM669.13 million.

The decliners included Panasonic Malaysia Manufacturing Bhd, Shell Refining Company (Federation of Malaya) Bhd, BLD Plantation Bhd, Globetronic Technology Bhd, Malaysian Pacific Industries Bhd, KESM Industries Bhd, C.I. Holdings Bhd and Genting Malaysia Bhd.

The actives included Tiger Synergy Bhd, APFT Bhd, Berjaya Corporation Bhd, Genetec Technology Bhd, XOX Bhd and V.S.Industry Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd, Malaysia Airport Holdings Bdh, Negri Sembilan Oil Palms Bhd, MISC Bhd and Karex Bhd.

Asian shares slipped on Friday as mounting concerns about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdown in China and other emerging markets, according to Reuters.

The prices of yen, gold and liquid government bonds of favoured countries soared as investors rushed to traditional safe-haven assets, it said.

Hong Leong IB Research said persistent external headwinds and the lack of domestic catalysts are likely to weigh on the FBM KLCI in the short term, with potential downside risks towards 1600-1622 zones.

“Overall, the FBM KLCI is likely to trap in short term consolidation given the external headwinds, unless it can swiftly reclaim above the key resistances of 1674-1690 congested territory,” it said.