For the month, the FBM KLCI is down 3.18% and year-to-date, it is down 8.02%.
KUALA LUMPUR: Blue chips slipped at midday on Monday, in line with weaker key Asian markets on rising geopolitical risks while the ringgit was firmer against the major currencies except the US dollar amid the higher crude oil prices.
At midday, the KLCI was down 3.3 points or 0.19% to 1,738.42. Turnover was 2.06 billion shares valued at RM815.03mil. There were 352 gainers, 431 losers and 401 counters were unchanged.
The ringgit weakened against the US dollar at 4.4388 from the previous close of 4.4350 but rose against the pound sterling at 5.4979 from 5.5151 and climbed against the Singapore unit at 3.1540 from 3.1636 and edged up against the Euro to 4.6983 from 4.7162.
Asian stocks slipped on Monday as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt while the greenback was supported by Federal Reserve policy tightening expectations, Reuters reported.
The rise in risks of a conflict contrasts with market watchers' outlook for the global economy, which is perhaps the most optimistic it has been in years, with Chinese data this week expected to show the economy performing well.
Reuters reported that oil prices were firm on Monday, supported by strong demand and political uncertainty in Syria, although another rise in US drilling activity kept a lid on gains. US light crude oil rise 12 cents to US$52.36 and Brent gained eight cent to US$55.32.
Petronas Dagangan and Petronas Gas were flat at RM24.10 and RM19.70 while Petronas Chemicals fell six sen to RM7.72.
AmBank was the top gainer among the banks, up 12 sen to RM4.97, CIMB and Hong Leong Bank rose two sen each to RM5.48 and RM13.74, Public Bank lost four sen to RM19.96, Maybank eased two sen to RM8.98 and RHB Bank shed one sen to RM5.25.
Crude palm oil for third month delivery fell RM35 to RM2,624 – but off the intra-day low of RM2,613 per tonne. At RM2,624, this was the lowest since October 2016.
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