KUALA LUMPUR: The FBM KLCI dipped slightly lower even as regional markets firmed on strong economic data.
China's markets played catch up after a week-long break and surged on optimism over global growth. However, liquidity was muted and Japan's and South Korea's markets were closed for holidays.
At 12.30pm, The FBM KLCI dipped 0.02 points to 1,763.98 points. Turnover was 1.5 billion shares with a value of RM680.32mil. There were 313 decliners versus 295 advancers and 486 counters unchanged.
Genting weighed on the local index in morning trade as it shaved 13 sen to RM9.55. IHH Healthcare was another laggard, dropping three sen to RM5.67.
Banking stocks were mostly up with Maybank rising one sen to RM9.55, CIMB gaining one sen to RM6.42, Ambaank rising one sen to RM4.49 and Public bank adding two sen to RM20.58. RHB dipped four sen to RM5.11.
Plantation counter KL Kepong lost two sen to RM24.78 while PPB declined six sen to RM16.76. IOI was unchanged at RM4.54.
Among telcos, Maxis gained one sen to RM5.90, Digi rose four sen to RM4.98, Telekom Malaysia dipped two sen to RM6.27 and Axiata rose one sen to RM5.33.
Petronas counters showed some upward movement; Petronas Dagangan rose eight sen to RM24.46 and Petronas Gas gained six sen to RM18.16. Petronas Chemicals was unchanged at RM7.35.
Among the leading decliners on Bursa Malaysia on Monday morning were Carlsberg, which dropped 12 sen to RM 14.80, Rapid Synergy which fell 19 sen to RM5.46 and Tasek, which lost 24 sen to RM12.66
Gainers included Amway, which rose 18 sen to RM7.38, Southern Acids, which gained 12 sen to RM4.78, and Lii Hen Industries which rose 11 sen to RM3.95.
Oil prices turned upwards on Monday on expectations that Saudi Arabia would restrain supply and as the number of US rigs drilling for oil dipped, Reuters reported.
WTI Crude rose 19 cents to US$49.48 a barrel while Brent Crude gained 16 cents to US$55.78.
The ringgit firmed up against the US dollar, rising 0.11% to 4.2323. It weakened against the pound sterling by 0.06% to 5.5435 and fell against the Singapore dollar by 0.1% to 3.1039.
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