KUALA LUMPUR: The FBM KLCI slid further into the red at midday as investors took profit from the year-end rally.

       At 12.30pm, the key index dropped 4.41 points to 1,540.63 with declines in most blue-chip counters.

       Bank stocks weighed with Public Bank down four sen to RM4.15, Maybank sliding two sen to RM8.31, CIMB dropping four sen to RM5.39 and Hong Leong Bank falling 18 sen to RM18.50.

       Petronas Chemicals also declined, dropping five sen to RM8.84 while Axiata dropped three sen to RM3.84.

       IHH rose five sen to RM6.80 and Maxis gained three sen to RM4.45.

       On the broader market, the breadth was slightly negative with 391 decliners compared to 361 gainers. Trading activity was thin with 1.19 billion shares exchanging hands for RM719.75mil.

       Top actives were XOX unchanged at three sen, AT Sytemization flat at 3.5 sen and DGB unmoved at three sen.

       Meanwhile, Asian markets were subdued as investors wound down trading on what is the last trading day of the year for many exchanges.

       Japan's Nikkei dropped 0.2%, South Korea's Kospi slid 0.4%, while China's benchmark index jumped 0.8%.

       Hong Kong's Hang Seng was up 0.2% while Australia's ASX200 was unchanged.