KUALA LUMPUR (Sept 24): The FBM KLCI pared some of its loss at the midday break on Tuesday but remained below the 1,600-point level as sentiment stayed muted in line with sombre regional markets.

At 12.30pm, the FBM KLCI dipped 3.59 points to 1,589.34. The index had earlier slipped to a low of 1,585.58.

Losers led gainers by 292 to 208, while 533 counters traded unchanged. Volume was 1.09 billion shares valued at RM664.26 million.

The top losers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Kuala Lumpur Kepong Bhd, Panasonic Manufacturing Malaysia Bhd, PPB Group Bhd, Genting Plantations Bhd, Malaysian Pacific Industries Bhd and British American Tobacco (M) Bhd.

The actives included Eduspec Holdings Bhd, Sapura Energy Bhd, Green Packet Bhd, Vsolar Group Bhd, Bumi Armada Bhd, Metronic Global Bhd and MNC Wireless Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Heineken Malaysia Bhd, ViTrox Corp Bhd, Carlberg Brewery Malaysia Bhd, UMW Holdings Bhd, PRG Holdings Bhd and Hong Leong Bank Bhd.

Most Southeast Asian stock markets were subdued on Tuesday as poor business activity readings from the euro zone and concerns about slowing global growth kept risk appetite in check, according to Reuters.

The manufacturing sector was in doldrums in Germany, Europe's biggest economy, while the French business activity also shrank in September, a survey on Monday showed, as global trade issues caught up to the euro bloc and stoked fears of a recession, it said.

Affin Hwang Capital Research said the FBM KLCI Index turned lower in yesterday's session, down 4.48 points or 0.28%, closing at 1,592.93.

"Volatility has increased slightly with price now testing the immediate support.

"Overall, bias to the downside escalates. This is also supported by key indicators on the daily chart which are beginning to point lower.

"Anticipate the index to trade sideways within a tight range," it said.