KUALA LUMPUR (Aug 14): The FBM KLCI fell 0.82% at the midday break Friday, tracking regional markets on account of weaker Chinese economic data, while local sentiment was further dampened by domestic economy contraction, while glovemakers dominated the losers list on Bursa Malaysia on profit-taking.

The Malaysian economy contracted by 17.1% in the second quarter of 2020 (1Q20: 0.7%), reflecting the unprecedented impact of the stringent containment measures to control the Covid-19 pandemic globally and domestically.

At 12.30pm, the FBM KLCI fell 13 points to 1,563.42.

The broader market sentiment was negative with losers outpacing gainers by 734 to 113, while 522 counters traded unchanged. Trading volume was 6.52 billion shares.

The top losers included Supermax Corp Bhd, Nestle (M) Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd, Apex Healthcare Bhd, Duopharma Biotech Bhd, Mega First Corp Bhd, Carlsberg Brewery Malaysia Bhd, DKSH Holdings (M) Bhd and Aeon Credit Service (M) Bhd.

The actively traded stocks included XOX Bhd, Sapura Energy Bhd, Priceworth International Bhd, Pegasus Heights Bdh, Trive Property Group Bhd, Borneo Oil Bhd and Lambo Group Bhd.

The gainers included Hap Seng Consolidated Bhd, Malaysia Airports Holdings Bhd, Petronas Gas Bhd, Ajinomoto (M) Bhd, PPB Group Bhd, Rapid Synergy Bhd, Gas Malaysia Bhd and IHH Healthcare Bhd.

Reuters said Asian shares fell on Friday after lacklustre Chinese economic data and worries about a delay in US fiscal stimulus discouraged some investors from taking on risk.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.24%, although shares in Japan rose 0.07%, it said.

JF Apex Securities Research said US markets were mixed with the Dow and S&P falling as coronavirus stimulus talks hit a stalemate while the Nasdaq climbed following gains in technology counters.

It said that earlier, European stocks declined despite positive US jobless claims data.

“On the local market, the FBM KLCI surged 19.78 points to 1,576.42 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above the support of 1,550 points,” it said.