KUALA LUMPUR (Dec 8): The FBM KLCI fell 0.44% at the midday break on Monday as investor sentiment remained bearish.

At 12.30pm, the FBM KLCI fell 7.66 points to 1,741.71.

Market breadth was bearish with losers beating gainers by 486 to 188, while 249 counters traded unchanged. Volume was 551.48 million shares valued at RM515.72 million.

The top losers included Aeon Credit Services (M) Bhd, Perduren (M) Bhd, Versatile Creative Bhd, PPB Group Bhd, Maxis Bhd, LPI Capital Bhd, Petronas Chemicals Group Bhd, Axiata Group Bhd, LTKM Bhd, Kuala Lumpur Kepong Bhd and MISC Bhd.

Bumi Armada Bhd was the most actively traded counter with 32.12 million shares done. The stock rose 2.88% or 3 sen to RM1.07.

The other actives included Pasukhas Group Bhd, Minetech Resources Bhd, KNM Group Bhd, Tiger Synergy Bhd, RGB Corporation Bhd, Malaysian Airline Syetem Bhd and Sumatec Resources Bhd.

The gainers included Petronas Dagangan, Petronas Gas Bhd, Dutch Lady Milk Industries Bhd, Tenaga Nasional Bhd, Guinness Anchor Bhd, Malaysian Pacific Industries Bhd, Dayang Enterprise Holdings Bhd and RHB Capital Bhd.

Regionally, Asian stocks eked out gains on Monday in wake of much stronger-than-expected U.S. employment numbers, although sobering data highlighted the sluggishness in the region's key economies and tempered gains, according to Reuters.

The dollar hovered at multi-year highs against the yen after Treasury yields spiked on the robust U.S. employment report, it said.

AffinHwang Capital Research said the FBMKLCI had convincingly breached below long term support level (EMA100w) at 1785 while EMA20w crossed below EMA50w indicating that Bursa Malaysia has entered into medium term “Bear Market”.

“To reverse the bearish view the index has to surge and remain above 1,830.

“Technical rebounds are possible but will highly likely to be short-lived as investors may continue lighten up their exposure gradually,” it said.