KUALA LUMPUR (Dec 3): The FBM KLCI stayed in negative territory at the midday break today in line with the slip at most regional markets.

At 12.30pm, the FBM KLCI fell 2.63 points to 1,674.14.

Market breadth was negative with 472 losers and 236 gainers, while 321 counters traded unchanged. Volume was 1.22 billion shares valued at RM817.61 million.

The top losers included Hong Leong Bank Bhd, Dutch Lady Milk Industries Bhd, Litrak Trans Kota Holdings Bhd, Hartalega Holdings Bhd, RHB Capital Bhd and Oriental Holdings Bhd.

The actives included Instacom Group Bhd, Hubline Bhd, XOX Bhd, Wintoni Group Bhd, 1 Utopia Bhd and Borneo Oil Bhd.

The gainers included Ajinomoto (Malaysia) Bhd, Panasonic Malaysia Manufacturing Bhd, Batu Kawan Bhd, Petronas Gas Bhd, Petronas Dagangan Bhd, British American Tobacco (M) Bhd, Oriental Interest Bhd and Tasco Bhd.

Asian stocks slipped and the dollar advanced on Thursday after hawkish comments from Federal Reserve Chair Janet Yellen reinforced the case for an interest rate hike later this month, according to Reuters.

Japan's Nikkei lost 0.3%, moving in a tight range as a wait-and-see mood prevailed ahead of the European Central Bank's policy decision later in the day, it said.

AffinHwang Capital Research said the market is preparing itself for higher level in the near future. "Consolidation and pullbacks in small and mid cap stocks are perfectly healthy! Slow but surely firm growths in global economy may be the next bullish catalyst!" it said.

The research house said that the local market is anticipated to trend sideways as overall market perceives as preparing itself for higher level in the near future.

"Better than expected economic growths in the US and Euro Area outperforms concern on China's slowing down.

"Technically, small and mid cap stocks have gone into short-term consolidation. Nevertheless, overall weekly outlook is bullish with year-end rally in the offing," it said.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)