KLCI pares gains in line with Asian markets despite crude oil breaching US$50 mark

KUALA LUMPUR: The FBM KLCI was marginally up by 0.69 points to 1,631.65 points at the midday close with Asian markets mostly flattish following Wednesday's strong rally despite Brent crude oil hitting US$50 per barrel today.

The benchmark index had earlier risen to an intraday high of 1,638.17 points before paring down the gains as telcos and banking stocks dragged down the FBM KLCI.