KUALA LUMPUR (July 9): The FBM KLCI remained lacklustre amid a dearth of fresh catalysts to spur the local market, while London Biscuits Bhd, which recently slipped into Practice Note 17 status, slumped 33% in active trade.

At 12.30pm, the FBM KLCI was up 2.24 points at 1,679.88.

Losers overtook gainers by 301 to 232, while 538 counters traded unchanged. Volume was 1.37 billion shares valued at RM721.77 million.

The gainers included Hong Leong Financial Group Bhd, Allianz Malaysia Bhd, Pentamaster Corp Bhd, Pos Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, PPB Group Bhd, Bermaz Auto Bhd, Aeon Credit Service (M) Bhd, United Malacca Bhd and Yinson Holdings Bhd.

The actives included Barakah Offshore Petroleum Bhd, Sapura Energy Bhd, Ekovest Bhd, London Biscuits, KNM Group Bhd and Green Packet Bhd.

The decliners included MB World Group Bhd, Can-One Bhd, London Biscuits, Tenaga Nasional Bhd, LPI Capital Bhd, Apollo Food Holdings Bhd, Knusford Bhd and Hengyuan Refining Co Bhd.

Asian stocks fell to their lowest levels in two and a half weeks on Tuesday as hopes dwindled for a hefty interest rate cut by the US Federal Reserve (Fed) at the end of the month, while technology companies were pulled lower by Apple Inc's overnight slump, according to Reuters.

Investors have rushed to scale back Fed rate cut expectations following unexpectedly strong gains in US jobs for June, with US stock markets falling for a second straight day, it said.

Affin Hwang Capital Research said the FBM KLCI Index started off the week on a sour note, dropping 4.89 points or 0.29% on Monday. The index ended the session at 1,677.64.

"The index is currently staging another pullback after a brief up move and it will be interesting to see this time around whether prices will stage a major reversal lower.

"If prices do break below the immediate low around 1,670 which coincides with the EMA20d (20-day exponential moving average) (dynamic support), this may strengthen further the possibility of a bearish reversal.

"Anticipate the index to move sideways with downward bias," it said.