KUALA LUMPUR (Dec 11): The FBM KLCI retreated at the midday break today in line with the slump at regional markets.

At 12.30pm, the FBM KLCI fell 3.24 points to 1,645.41.

Decliners led advancers by 387 to 255, while 336 counters traded unchanged. Volume was 673.89 million shares valued at RM695.3 million.

The top losers included PPB Group Bhd, UMW Holdings Bhd, Batu Kawan Bhd, Latitude Tree Holdings Bhd, Cahya Mata Sarawak Bhd, Lafarge Malaysia Bhd, Top Glove Corporation Bhd, Dutch Lady Milk Industries Bhd and Uzma Bhd.

The actives included Red Sena Bhd, Eden Inc Bhd, Instacom Group Bhd, XOX Bhd, Frontken Corporation Bhd, Genetec Technology Bhd and SapuraKencana Petroleum Bhd.

The gainers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Oriental Interest Bhd, Malaysia Airports Holdings Bhd and Genting Plantations Bhd.

Asian shares slumped on Friday, on track for a weekly loss as plunging crude prices heightened fears about receding global growth, while China's yuan hit its weakest level in more than four years, according to Reuters.

A supply glut in oil markets and cooling growth in China, the world's biggest commodities consumer, have pressured many asset markets ahead of a widely expected hike to US interest rates by the Federal Reserve next week, it said.

BIMB Securities Research said most Asian stocks fell on Thursday as the People's Bank of China allowed the yuan to depreciate against the dollar for a fourth consecutive day, sparking fears of competitive devaluations across Asia.

Back home, it said the FBM KLCI lost another 10.71 points to close at 1,648.65 yesterday as it expects the investors waited to see what the Federal Reserve will do at next week's meeting.

"Trading participation saw net selling by foreign and local institutions.

"We anticipate the stocks market [to] remain sideways in line with performance of global bourses and expect the index to hover at around 1,640–1,654," 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.)