KLCI Down 0.1%; 1572 Support Tipped - MIMB

The KLCI is down 0.1% at 1576.66 midday, bucking the regional trend that came on positive 2Q GDP data in China; trading remains volatile amid low volumes as investors stay on the sideline in the absence of fresh local cues following Wall Street's decline Tuesday. Technical analysis of overall daily market action shows the KLCI will likely trade below 1574 Wednesday, says MIMB Investment. The house tips support at 1572 followed by 1566. Market breadth is negative with 268 losers and 253 gainers. Among losers, Malayan Banking (1155.KU) is down 0.4% at MYR8.86, Kuala Lumpur Kepong (2445.KU) is down 0.6% at MYR22.10 and AirAsia (5099.KU) is down 1.2% at MYR3.43. Among gainers, CIMB Group (1023.KU) is up 0.1% at MYR8.82, Axiata (6888.KU) is up 0.2% at MYR5.04 and Tenaga Nasional (5347.KU) is up 0.3% at MYR6.76.