KUALA LUMPUR (July 3): The FBM KLCI drifted lower at mid-morning today on profit taking on index-linked banking stocks.

At 10am, the FBM KLCI fell 3.10 points to 1,730.78.

The top losers included Kuala Lumpur Kepong Bhd, UMW Holdings Bhd, Carlsberg Brewery (M) Holdings Bhd, S P Setia Bhd, Batu Kawan Bhd, LTKM Bhd, RHB Capital Bhd, Public Bank Bhd and Malayan Banking Bhd.

The actives included JAKS Resources Bhd, APFT Bhd, Perdana Petroleum Bhd, Multi-Sports Holdings Bhd, Frontken Corporation Bhd, Scanwolf Corporation Bhd, Vsolar Group Bhd and Sedania Innovator Bhd.

The top gainers included British American Tobacco (M) Bhd, My E.G. Services Bhd, SHL Consolidated Bhd, Tan Chong Motor Holdings Bhd, Time Dotcom Bhd, Century Bond Bhd and UEM Edgenta Bhd.

Asian stocks were little changed on Friday, with investors reluctant to stake out fresh positions after disappointing U.S. employment data and cautious ahead of Greece's weekend referendum which may decide its future in Europe, according to Reuters.

China's increasingly volatile markets may upstage Greek concerns in the session, after that country's securities market regulator said it had opened an investigation into suspected market manipulation after a slump of more than 20 percent in Chinese stocks since mid-June, it said.

Hong Leong IB Research said that technically, there was still room for advance amid positive downtrend line breakout and positive daily oscillators.

“However, the relief rally may be temporary and mild profit taking could emerge amid uncertainty over Greece 5 July referendum.

“We expect stiff resistances at 1746-4769 whilst supports fall on 1688-1700,” it said.