KUALA LUMPUR (Nov 9): The FBM KLCI remained lower at midday on Thursday, tracking the downbeat performance of regional bourses. 

At 12.30pm, the key index had slipped 0.39%, or 5.69 points, to 1,451.91, from Wednesday's close at 1,457.60. 

The KLCI opened 0.76 of a point easier at 1,456.84, and moved between 1,451.19 and 1,457.84 throughout the morning session. 

The broader market was also negative, as decliners trounced gainers 453 to 323, while 425 counters were unchanged, 1,172 untraded, and 20 others suspended. 

Turnover stood at 1.97 billion units worth RM935.43 million.

ActivTrades trader Anderson Alves said Asian stock markets were poised for cautious gains on Thursday, buoyed by softer US interest rates following a well-received US Treasury 10-year note auction, which calmed fears of a supply-demand mismatch affecting bond term premiums.

He said the market was eyeing the upcoming 30-year bond auction later in the session, especially after last month's underwhelming performance.

“Equity market movements seem tightly linked to these auction outcomes, as robust demand for US bonds is generally taken as a positive sign, whereas tepid demand suggests a need for higher yields to attract buyers, coinciding with the Treasury's increased supply projections due to significant refinancing needs,” he said in a note.

Among local heavyweights, Malayan Banking Bhd (Maybank) lost one sen to RM9.11, Public Bank Bhd fell two sen to RM4.19, and Petronas Chemicals Group Bhd decreased 13 sen to RM7.18, while CIMB Group Holdings Bhd added one sen to RM5.78, and Tenaga Nasional Bhd was flat at RM9.92.

Of the actives, PDZ Holdings Bhd gained 1.5 sen to seven sen, Swift Haulage Bhd increased 2.5 sen to 57.5 sen, Sarawak Consolidated Industries Bhd at 59 sen and Leform Bhd at 25 sen were both half a sen firmer, and Velesto Energy Bhd slid one sen to 24.5 sen.

On the index board, the FBM Emas Index gave up 41.68 points to 10,737.69, the FBMT 100 Index dipped 42.73 points to 10,400.32, the FBM Emas Shariah Index went down 53.19 points to 10,946.23, and the FBM 70 Index tumbled 67.05 points to 14,219.56, while the FBM ACE Index rose 21.53 points to 5,151.63.

Sector-wise, the Financial Services Index slipped 26.34 points to 16,343.91, the Industrial Products and Services Index inched down 0.69 of a point to 172.72, the Energy Index trimmed 6.28 points to 858.67, and the Plantation Index shed 23.07 points to 6,933.29.