KUALA LUMPUR (May 9): The FBM KLCI fell 0.7% at the midday break today, against the backdrop of nervous regional markets.

At 12.30pm, the FBM KLCI fell 11.48 points to 1,622.07.

Losers led gainers by 474 to 199, while 1,257 counters were unchanged. Volume was 1.12 billion shares valued at RM774.76 million.

The losers included Nestle (M) Bhd, Tasek Corp Bhd, QL Resources Bhd, Petronas Chemicals Group Bhd, Malaysia Airports Holdings Bhd, MISC Bhd, Apex Healthcare Bhd and Maxis Bhd.

The actives included Lambo Group Bhd, Impiana Hotels Bhd, Daya Materials Bhd, Iris Corp Bhd and Ekovest Bhd.

The gainers included Carlsberg Brewery Malaysia Bhd, Hong Leong Industries Bhd, British American Tobacco (M) Bhd, Frontken Corp Bhd, SAM Engineering & Equipment (M) Bhd, United Malacca Bhd and Melati Ehsan Holdings Bhd.

The Philippine stock index fell nearly 2% on Thursday after a disappointing first-quarter growth data, while most of its peers in the region extended losses as investors remained edgy ahead of the crucial US-China trade talks, according to Reuters.

Markets were nervous after Beijing on Thursday threatened countermeasures if the additional 25% tariff on US$200 billion worth of Chinese goods, ordered by US President Donald Trump, came into force on Friday, it said.

Affin Hwang Capital Research said the FBM KLCI Index dropped 5.82 points or 0.36% on Wednesday, closing at 1,633.55.

"The index has been stalling at the 20-day EMA (exponential moving average) for about two weeks now. Prices are congesting sideways, alternating between gains and losses for the past week.

"Looking at price action, bias now turning towards the downside as the daily candles are not making new highs.

"Anticipate the FBM KLCI Index to consolidate sideways with downward bias," it said.