KUALA LUMPUR: The FBM KLCI managed to eke out a slight gain of 1.16 points to 1,679.26 at midday as equity markets around the region extended their sell-off on fears over an escalating trade fight.
China markets were the worst hit with the Shanghai Composite Index falling 0.8% and the blue chip CSI dropping 1.3%.
On the home front, trading volume remained soft with investors sitting on the sidelines amid the negative sentiment. At 12.30pm there were 1.13 billion shares traded with a value of RM838.24mil.
There were 527 declining counters versus 190 advancers and 329 unchanged.
Maybank led the fall on the benchmark index, slipping five sen to RM9.03. This ran in contrast to Public Bank's 18 sen rise to RM22.90 and CIMB's rebound of 10 sen to RM5.50 following the previous session's sharp decline.
Hong Leong Bank also slid in morning trade, losing four sen to RM18.08.
Telcos were also in the red with Digi slipping five sen to RM4.22 and Maxis shedding four sen to RM5.52.
Telekom Malaysia, which has seen selling pressure of late due to the government's plans to reduce broadband prices, shed another three sen to RM3.10.
Among other notable movers, Icapital.biz gained 12 sen to RM2.72. Hong Leong Financial Group gained 16 sen to RM18.28 and BAT added 54 sen to RM34.64.
Decliners included Carlsberg dropping 38 sen to RM19.40, Dutch Lady
falling 26 sen to RM66.84 and Petron Malaysia losing 15 sen to RM7.26.
In oil markets, uncertainty over control of Libya's oil ports lifted prices even as Opec's plans to raise output exerted downwards pressure.
WTI crude rose 16 cents to US$68.24 a barrel while Brent crude gained eight cents to US$74.81 a barrel.
On the forex market, the ringgit fell 0.1% against the US dollar to 4.0220. It also fell 0.5% against the pound sterling at 5.3454 and 0.2% against the Singapore dollar at 2.9548.
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