KUALA LUMPUR: Blue chips eked out slight gains early Monday on news that the US-China trade war, which had cast a pall of gloom in recent weeks, was put on hold.
At 9.10am, the KLCI was up 0.04 point to 1,854.54. Turnover was 201.51 million shares valued at RM100mil. There were 223 gainers, 120 losers and 156 counters unchanged.
US stock futures jumped on Monday as US Treasury Secretary Steven Mnuchin said the US trade war with China is "on hold" after the world's two largest economic powers agreed to drop their tariff threats while they work on a wider trade agreement, Reuters reported..
S&P mini futures rose 0.6% in early Asian trade on Monday. Japan's Nikkei ticked up 0.1% while MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.1% in early trade.
At Bursa, Nestle rose RM3 to RM148, BAT added 40 sen to RM32.76 and Carlsberg gained 30 sen to RM20.50.
Among the KLCI stocks, Petronas Dagangan rose 68 sen to RM26.96 but with 100 shares done. KLK added 26 sen to RM24.86 and Public Bank 10 sen higher at RM24.48.
Suria jumped 13 sen to RM1.78 while Allianz and Globetronics added 10 sen each to RM12.60 and RM5.18.
Cahya Mata Sarawak continued to come under pressure, falling 30 sen to RM2.18, Pos Malaysia fell 14 sen to RM3.65, MISC 11 sen to RM6.74 and SP Setia six sen lower at RM3.20.
Axiata, Tenaga and Hengyuan lost six sen each to to RM5.10, RM15.86 and RM8.34 respectively.
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