KUALA LUMPUR (July 3): The FBM KLCI dipped in line with the regional markets at the midday break today, weighed by losses including at index-linked banking stocks and select blue chips.

At 12.30pm, the FBM KLCI fell four points to 1,729.88.

Market breadth turned negative with 449 losers and 192 gainers, while 261 counters traded unchanged. Volume was 877.46 million shares valued at RM692.77 milion.

The top losers included Hong Leong Financial Group, Lay Hong Bhd, RHB Capital Bhd, Petronas Gas Bhd, Syarikat Takaful Malaysia Bhd, Carlsberg Brewery (M) Holdings Bhd, PPB Group Bhd, Tasek Corporation Bhd, Lii Hen Industries Bhd, My E.G Services Bhd, CIMB Group Holdings Bhd and Batu Kawan Bhd.

The most actively-traded counters included Perdana Petroleum Bhd, JAKS Resources Bhd, APFT Bhd, ManagePay Systems Bhd, Scanwolf Corporation Bhd and Multi-Sports Holdings Bhd.

The top gainers included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Petronas Dagangan Bhd, Lafarge Malaysia Bhd, Century Bond Bhd, Tan Chong Motor Holdings Bhd, UEM Edgenta Bhd and Pestech International Bhd.

Asian stocks fell on Friday as China's stocks plunged, while growing caution before Greece's weekend referendum prompted investors to cut risky bets, while disappointing U.S. employment data weighed on the dollar, according to Reuters.

In early trade, stocks in Shanghai slumped more than 6 percent, taking total losses to nearly 30 percent since a peak on June 12. The rout in China's stock markets has wiped out trillions of dollars of market capitalization in Shanghai and Shenzhen's stock markets, it said.

BIMB Securities Research said that in Asia, key indexes closed mostly positive yesterday (July 2), with sharp increase in Japan, after strong buying in automotive stocks, thanks to a weakened yen.

Locally, it said the FBM KLCI ended higher, rising 5.92 points to 1,733.88, lifted by banking and plantation counters.

“Trading participation saw net selling by foreign institutions and local retail, while local institutions were net buyers.

“We reckon the recent upgrade in Malaysia’s sovereign credit outlook will restore investor sentiment and expect the local market to remain positive today, as it was oversold over the past 2 weeks, with immediate resistance of 1,740,” it said.