KLCI continues lacklustre trade at midday

KUALA LUMPUR: The FBM KLCI has continued its downward trend at midday on Tuesday led by losses in financial institutions as investors' sentiments were seen muted due to lack of buying interests.

At 12.30pm, the KLCI fell 3.2 points to 1,805.69. Turnover was 853.26 million shares valued at RM545.96mil. There were 249 gainers, 366 decliners and 306 counters unchanged.

Reuters reported that Asian share markets and the euro retreated on Tuesday as talks between Greece and euro zone finance ministers broke down after Athens rejected a proposal to request a six-month extension of its international bailout program.

US stock futures fell 0.5% in Asian trade while Japan's Nikkei share average shed 0.3%. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2%.

Meanwhile, JF Apex said in a note that trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers. 

"We expect the local market to remain flat today due to lack of fresh catalysts with the index hovering in the region 1,805-1,815," it said.

At Bursa Malaysia, KL Kepong fell 28 sen to RM22.50.

LPI fell 34 sen to RM20.46, HLCap 20 sen to RM11.10, Aeon Credit 20 sen to RM13.02 and Allianz 20 sen to RM12.16.

Bursa fell 11 sen to RM8.12 and Mitra 11 sen to RM1.54.

Gainers were VS, up 11 sen to RM4.01 and PetDag 16 sen to RM18.34.

Nikkei 225 fell 0.14% to 17,980.23

Hong Kong Hang Seng Index rose 0.38% to 24,820.38

Shanghai Stock Exchange Composite Index rose 0.82% to 3,248.82

Taiwan Stock Exchange Weighted Index rose 0.35% to 9,529.51

Korea Stock Exchange KOSPI Index rose 0.03% to 1,958.91

Straits Times Index STI fell 0.4% to 3,413.38

Crude oil (WTI) rose 30 cents to US$53.08 while Brent rose 55 cents to US$61.95.

Spot gold fell US$4.48 to US$1,228.07