KUALA LUMPUR, July 16 — The benchmark index lost 0.31 per cent on subdued investors’ appetite as participants await developments on the US-China trade negotiations.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.17 points to 1,667.20 from 1,672.37 at Monday’s close.

The index moved between 1,666.46 and 1,672.47 throughout the morning session.

Market breadth was negative, with losers outnumbering gainers 426 to 298, while 388 counters were unchanged, 743 untraded and 19 others suspended.

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Turnover amounted to 1.76 billion shares worth RM945.6 million.

Malacca Securities Sdn Bhd in a note said global market conditions are becoming increasingly indifferent with the lack of fresh leads to determine market direction.

“The FBM KLCI’s consolidation trend is still unfolding after its bout of overbought, but saw some mild support yesterday. This could extend its mild recovery over the near term as it looks to arrest some of its recent pullbacks,” it said today.

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Losses in the heavyweight counters were led by TNB, which lost 20 sen to RM13.68, Digi reduced six sen to RM4.99, Maxis erased five sen to RM5.63, Petronas Chemicals was four sen easier at RM8.32 while Axiata was three sen lower at RM5.16.

Of the losers, F&N eased 24 sen to RM34.24, Nestle down 20 sen to RM147.80, KLK fell 16 sen to RM24.04 and Magni was 15 sen easier at RM5.18.

The FBM Emas Index declined 24.17 points to 11,843.26 and the FBMT 100 Index eased 23.98 points to 11,666.92.

The FBM Emas Shariah Index was 36.48 points weaker at 12,234.15 but the FBM Ace went up 2.6 points to 4,698.24 while the FBM 70 added 18.73 points to 14,927.57.

Sector-wise, the Financial Services Index eased 14.84 points to 16,620.69 and the Plantation Index declined 15.52 points to 6,885.90.

The Industrial Products & Services Index was down 0.45 point at 160.41. — Bernama