KUALA LUMPUR (March 28): The FBM KLCI dipped 0.12% at the midday break, bucking the regional trend as local sentiment remained wary, and key heavyweight stocks dragged.

At 12.30pm, the FBM KLCI fell 2.03 points to 1,640.70. The index had earlier slipped to its intra-morning low of 1,638.69.

Losers led gainers by 327 to 172, while 468 counters traded unchanged. Volume was 950.36 million shares valued at RM616.91 million.

The decliners included Petronas Dagangan Bhd, Rapid Synergy Bhd, Hengyuan Refining Company Bhd, Lotte Chemical Titan Holding Bhd, Fraser & Neave Holdings Bhd, Tenaga Nasional Bhd, Maxis Bhd and Sime Darby Plantation Bhd.

The actives included Sapura Energy Bhd, My EG Services Bhd, Destini Bhd, Bumi Armada Bhd and Hiap Teck Venture Bhd.

The gainers included Nestle (M) Bhd, Panasonic Manufacturing Malaysia Bhd, United Plantations Bhd, Teck Guan Perdana Bhd, SAM Engineering & Equipment (M) Bhd, Bintulu Port Holdings Bhd, Genting Bhd and Petronas Chemicals Group Bhd.

Most Southeast Asian stock markets edged up on Thursday on bargain hunting and some progress in US-China trade talks, while the Malaysian index hit its lowest in more than three months after the central bank's gloomy growth outlook for this year, according to Reuters.

Bank Negara Malaysia in its annual report on Wednesday had lowered its economic growth expectation for 2019 to 4.3-4.8% from an earlier forecast of 4.9% growth, the newswire said.

Affin Hwang Capital Research said the FBM KLCI Index fell further in yesterday's session, extending its losses.

The index dropped 7.21 points or 0.44%, closing at 1,642.73.

"The index is approaching the next support level around 1,630. Since there is no clear restriction for prices from current level till support, we may only see the index staging a temporary rebound once at support as buyers may be present.

"Prices are also now trading well below all of the key daily EMAs (exponential moving averages) which suggests a heavy bias to the downside.

"Anticipate the FBM KLCI Index to further soften, potentially retesting the 1,630-1,615 level," it said.