KUALA LUMPUR (Dec 8): The FBM KLCI remained in negative territory at the midday break today in line with the slump at most regional markets.

At 12.30pm, the local index fell 1.77 points to 1,670.23.

Losers beat gainers by 411 to 296, while 311 counters traded unchanged. Volume was 932.07 million shares valued at RM684.76 million.

The top losers included Petronas Dagangan Bhd, Guiness Anchor Bhd, British American Tobacco (M) Bhd, Pos Malaysia Bhd, SWS Capital Resources Bhd, Dutch Lady Milk Industries Bhd and Keck Seng (Malaysia) Bhd.

The actively traded stocks included 1 Utopia Bhd, XOX Bhd, Instacom Group Bhd, Sumatec Resources Bhd, Genetec Technology Bhd, China Stationery Ltd Bhd and Metronic Global Bhd.

The gainetrs included Kossan Rubber Industries Bhd, Far East Corporation Bhd, Asia File Corporation Bhd, SHH Resources Holdings Bhd, Batu Kawan Bhd, Hap Seng Consolidated Bhd, Malaysian Pacific Industries Bhd, Ta Ann Holdings Bhd and KESM Industries Bhd.

Asian stocks hit three-week lows on Tuesday as a rout in oil prices knocked energy company shares lower and many investors moved to the sidelines ahead of next week's meeting where the Federal Reserve is expected to raise U.S. interest rates, according to Reuters.

With financial markets have already priced in a rate hike, it is the trajectory of U.S. interest rates communicated by Fed Chair Janet Yellen that investors will watch amid uncertainty about growth in China and globally, it said.

BIMB Securities Research said Asian markets ended mixed yesterday as investors kept alert following better-than-expected U.S. jobs report, which is seen as clearing the way for the U.S. Federal Reserve to raise interest rates next week for the first time since 2006.

Locally, it said the FBM KLCI closed higher, gained 4.13 points or 0.25% to 1,672.0, lifted mainly by plantation and banking stocks.

“Trading participation saw net buying by local institutions while foreign institutions and local retail were net sellers.

“We expect the local market to extend its consolidation stage as investors would remain cautious due to mixed sentiments around world with the index hovering circa 1,670-1,675,” it said.