KUALA LUMPUR (July 29): The FBM KLCI fell 0.34% at the midday break, tracking the slide at regional markets, dragged by losses at blue chips including key banking stocks.

At 12.30pm, the FBM KLCI fell 5.62 points to 1,642.34.

Losers led gainers by 343 to 208, while 568 counters traded unchanged. Volume was 1.4 billion shares valued at RM816.54 million.

The losers included British American Tobacco (M) Bhd, Heineken Malaysia Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Public Bank Bhd, RHB Bank Bhd and Malaysia Airports Holdings Bhd.

The actives included Priceworth International Bhd, Ekovest Bhd, KNM Group Bhd, AirAsia Group Bhd, NetX Holdings Bhd and Minda Global Bhd.

The gainers included Nestle (M) Bhd, MSM Malaysia Holdings Bhd, Ajinomoto (M) Bhd, Carlsberg Brewery Malaysia Bhd, Atlan Holdings Bhd, Panasonic Manufacturing Malaysia Bhd, Yinson Holdings Bhd, Gamuda Bhd and Sarawak Oil Palms Bhd.

Most Southeast Asian stock markets fell on Monday as investors exercised caution ahead of a widely anticipated rate cut by the Federal Reserve (Fed), with the focus shifting to whether the US central bank will signal further monetary stimulus, according to Reuters.

The Fed is broadly expected to dish out a quarter point rate cut at its policy review that ends on Wednesday, but markets await chief Jerome Powell's speech to look for cues on further policy easing as a protracted tariff dispute with China continues to damage business sentiment, it said.

CGSCIMB Retail Research said the FBM KLCI index was down 10.2 points or 0.6% week-on-week, mainly due to the disappointing European Central Bank's (ECB) interest rate decision.

The research house said last week's decline was the third straight week of losses for the local benchmark index.

"Today, the local market is likely to see further consolidation as the bourse will be closed tomorrow to honour the coronation of Yang di-Pertuan Agong.

"On the external front, investors are waiting for news on the US interest rate cut decision, which may keep traders temporarily sidelined this week. Resistance: 1,665 & 1,680. Support: 1,650 & 1,633," it said.