Malaysia

Msia: KLCI slips below a key support level and is down 0.5% at 1599.73 midday break amid selling pressure from both foreign and local investors across the board. The benchmark index appears to be in for more downside after breaching the 1600 psychological mark; technical analysts tip the 1550-1580 area as immediate support. Market breadth sees losers outnumber gainers more than 3-to-1 with 580.6 m shares changing hands. MSM Malaysia is down 3.0% at RM 4.91 and Wah Seong Corp falls 1.7% to RM 1.77 after disappointing quarterly results from both companies. Sime Darby is down 0.1% at RM9.52 ahead of the release of its quarterly results due later in the day.