KUALA LUMPUR (July 17): The FBM KLCI lost 0.42% at the midday break today as sentiment remained negative while most of the indices on Bursa Malaysia were mired in the red.

At 12.30pm, the FBM KLCI lost 6.96 points to 1,661.98.

Losers led gainers by 368 to 156, while 537 counters traded unchanged. Volume was 2.19 billion shares valued at RM969.99 million.

The losers included Petronas Chemicals Group Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Ajinomoto (M) Bhd, Hong Leong Industries Bhd, Carlsberg Brewery Malaysia Bhd, Tenaga Nasional Bhd, Amway (M) Holdings Bhd, Nestle (M) Bhd and KESM Industries Bhd.

The actives included i-Stone Group Bhd, Velesto Energy Bhd, KNM Group Bhd, Sapura Energy Bhd, Alam Maritim Resources Bhd and Reach Energy Bhd.

The gainers included Panasonic Manufacturing Malaysia Bhd, Heineken Malaysia Bhd, Guan Chong Bhd, United Plantations Bhd, i-Stone, Allianz Malaysia Bhd and JMR Conglomeration Bhd.

Asian shares drifted off on Wednesday as anxious investors awaited more earnings reports from corporate America, while the US dollar held firm in the wake of robust US retail data and a Brexit-driven dive in the pound, according to Reuters.

Oil prices also nursed losses on hints US tensions with Iran could be easing and as data showed stockpiles fell by less than expected last week, it said.

CGSCIMB Retail Research said the benchmark index shed 3.43 points or 0.21% to close at 1,668.94 yesterday.

The research house said the key index continued to trade sideways yesterday, implying that the consolidation from the recent 1,695 high is still ongoing.

"The 200-day EMA (exponential moving average) is likely to keep any bounce in check while a close below its 50-day EMA would see the index fall towards 1,655 followed by 1,633 next.

"Strong support can only be found near the 1,636 levels. For Bursa Malaysia Small Cap index, the neckline of its reversal ascending triangle formation is currently being tested.

"A break above this neckline is positive for lower liners. Resistance: 1,684 & 1,694. Support: 1,660 & 1,636," it said.