KUALA LUMPUR (July 23): The FBM KLCI got off to a mute start this morning, despite the advance at most regional markets, weighed by select blue chips.

At 9.05am, the FBM KLCI  shed 0.20 points to 1,655.20.

The early decliners included Gamuda Bhd, AMMB Holdings Bhd, Public Bank Bhd, YNH Property Bhd, Country Heights Holdings Bhd, Allianz Malaysia Bhd, Genting Malaysia Bhd, IOI Properties Group Bhd and Matrix Concepts Holdings Bhd.

Expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks on Tuesday, while the pound sagged as Britain braced for a new prime minister who could pave the way for a no-deal exit from the European Union, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.02%, it said.

Affin Hwang Capital Research said  the FBMKLCI Index fell 2.79 points or 0.17% on Tuesday, ending the session at 1655.40.

“Market breadth was negative with 296 gainers as compared to 507 losers.

“Trading volume was at 2.65 billion shares while value traded stands at RM1.54 billion. The index initially fell about 10 points before paring much of the losses later in the session.

“In terms of technical indicators, on the daily chart, MACD has already made a bearish cross and is heading towards the “0” level. If a cross below materialises, anticipate the downward movement to escalate. Anticipate the index to move sideways with downward bias,” it said.