KUALA LUMPUR (Jan 15): The FBM KLCI remained in consolidation mode and stayed rooted below the 1,600-point level as the index continued to trade with a downward bias, in line with the drop at regional markets.

At 12.30pm, the FBM KLCI was down 4.01 points at 1,576.59.

Losers led gainers by 330 to 219, while 526 counters traded unchanged. Volume was 1.44 billion shares valued at RM642.72 million.

The top losers included Nestle (M) Bhd, Batu Kawan Bhd, British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd, Carlsberg Brewery Malaysia Bhd, Tenaga Nasional Bhd, KESM Industries Bhd and Petronas Gas Bhd.

The actives included Vortex Consolidated Bhd, TH Heavy Engineering Bhd, London Biscuits Bhd, Yong Tai Bhd, Datasonic Group Bhd and JAKS Resources Bhd.

The gainers included Public Bank Bhd, Can-One Bhd, Datasonic, ViTrox Corp Bhd, Coastal Contracts Bhd, Chin Teck Plantations Bhd and Allianz Malaysia Bhd.

Reuters said Southeast Asian stock markets dropped on Wednesday as broader confidence was dented ahead of the signing of an initial Sino-US trade deal following comments from Washington that tariffs on Chinese goods would remain in place for now.

US Treasury Secretary Steven Mnuchin said on Tuesday that the United States would maintain tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement, it said.

Affin Hwang Capital Research said the FBM KLCI dropped 4.13 points or 0.3%, to close at 1,580.6 on Tuesday.

It said the index continued to push lower in yesterday's session, retesting the 1,575 minor support area.

However, the research firm said the index managed to recover some of the losses, ultimately closing just above support.

"Nonetheless, bearish bias remains with further potential downside in the near term.

"Key levels to take note: 1,575 — minor support, 1,550 — key support.

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