KUALA LUMPUR (Jan 29): The FBM KLCI stayed in the negative zone at the midday break on Thursday in line with the fall at most global markets, weighed by losses at index-linked blue chips.

At 12.30pm, the FBM KLCI lost 0.66% or 11.77 points to 1,784.11.

Market breadth was negative with 490 losers and 191 gainers, while 285 counters traded unchanged. Volume was 1.05 billion shares valued at RM886. 81 million.

The ringgit weakened 0.43% versus the US dollar and was quoted at 3.6340.

The top losers included Petronas Gas Bhd, Kuala Lumpur Kpong Bhd, AMMB Holdings Bhd, IJM Plantations Bhd, Tenaga Nasional Bhd, Hong Leong Bank Bhd, Genting Malaysia Bhd, PPB Group Bhd, VS Industry Bhd, Hong Leong Financial Group Bhd and Genting Plantations Bhd.

Globaltec Formation Bhd was the most activley traded stock with 64.45 million shares done. The stock jumped 23.08% or 1.5 sen to 8 sen.

The other actives included Hubline Bhd, Sanichi Technologies Bhd, The Media Shoppe Bhd, Jobstreet Corporation Bhd, Talam Transform Bhd, Sumatec Resources Bhd and KNM Group Bhd.

The top gainers included LPI Capital Bhd, Petronas Dagangan Bhd, Fraser & Neave Holdings Bhd, Batu Kawan Bhd, Panasonic Malaysia Manufacturing Bhd, Ta Ann Holdings Bhd and Perak Corporation Bhd.
Asian shares retreated on Thursday after the Federal Reserve unexpectedly lifted its view on the economy, signalling that the U.S. central bank remains firmly on track with plans to raise interest rates this year, according to Reuters.
The Fed said falling energy prices boosted household purchasing power, even as it acknowledged a decline in certain inflation measures and added international developments would be taken into consideration, it said.
BIMB Securities Research said while Asian equity markets sank following a heavy sell-off in New York, where a string of poor earnings reports stoked concerns about the US economy and put pressure on the dollar,  traders were also keeping an eye on Europe as Greece's new anti-austerity government prepares to face off with its international creditors over its bailout.

Locally, it said the FBM KLCI got off to a soggy start and fell 0.4% in line with the retreat at regional markets, weighed by losses at blue chips.

“The KLCI fell 7.29 points or 0.4% to 1,795.88.

“We expect the situation to persist with immediate resistance at 1801 and support at 1790,” it said.