KUALA LUMPUR (Dec 18): The FBM KLCI dipped 0.5% at the midday break today in line with the slip at most regional markets.

At 12.30pm, the FBM KLCI fell 8.32 points to 1,648.20.

Market breadth turned negative with 429 losers and 281 gainers, while 271 counters traded unchanged. Volume was 965.24 million shares valued at RM791.03 million.

The top losers included Kuala Lumpur Kepong Bhd, DanaInfra Nasonal Bhd, Ajinomoto (M) Bhd, Panasonic Malaysia Manufacturing Bhd, Guinness Anchor Bhd, PPB Group Bhd, AMMB Holdings Bhd, Latitude Tree Holdings Bhd and Asia File Corporation Bhd.

The actively traded stocks included Instacom Group Bhd, Asia Media Bhd, Comintel Corporation Bhd, XOX Bhd, Comfort Gloves Bhd and APFT Bhd.

The top gainers included P.I.E. Industrial Bhd, Batu Kawan Bhd, Malaysian Pacific Industries Bhd, Nestle (M) Bhd, Scientex Bhd, Aeon Credit (M) Bhd and Kawan Food Bhd.

Asian shares took their cue from Wall Street and slipped on Friday, but were still on track for gains in a week marked by the first US interest rate hike in nearly a decade and a depreciating yuan, according to Reuters.

The divergence between US and other countries' policies is already expanding, with Taiwan's central bank unexpectedly cutting interest rates for the second time this year on Thursday. The bank also said it would keep monetary policy loose to shore up growth in the island's trade-dependent economy as the global demand outlook worsened, it said.

BIMB Securities Research said that in Asia, most of the key indices ended higher following the positive lead in Wall Street the day before.

It said that in line with other regional market, the FBM KLCI soared 22.39 points or 1.37% to 1,656.52 points.

"Trading participation shows net selling by foreign institutions while local institutions and retail were net buyers.

"We expect the local market to trend sideways with the index hovering around 1,650–1,670," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)