KUALA LUMPUR: The local market experienced a modest lift in thin trading on Tuesday morning, two-days ahead of the mid-term review of the 11th Malaysia plan.
Investors are holding to the sidelines as they await the coming debate and discussions over the country's fiscal policy moving forward.
Around the region, stocks bounced back from the recent heavy selloff but gains were capped due to growing tensions betweeen the US and Saudi Arabia over the disappearance of a political journalist.
At 12.30pm, the FBM KLCI was up 0.99 points to 1,729.73. Turnover was 796.54 million shares valued at RM634.77mil. There were 269 gainers versus 359 decliners and 250 counters unchanged.
Among gainers on the 30-stock index. Sime Darby Plantation
gained four sen to RM5.22 and IOI Corp lifted three sen to RM4.52.
Banks were trading mixed with Hong Leong Bank rose 12 sen to RM20.62, CIMB adding two sen to RM5.95, Maybank losing two sen to RM9.56 and Public Bank unchanged at RM24.98.
Decliners included Nestle sliding 90 sen to RM144.10, Maxis shedding seven sen to RM5.44, Axiata losing one sen to RM3.89 and Petronas Gas dropping four sen to RM18.20.
On the broader market, Top Glove continued its ascent, rising 32 sen to RM11.54. Hibiscus added three sen to RM1.25 while Yong Tai lifted 5.5 sen to 68 sen.
Consumer stocks led the declines as Carlsberg dropped 30 sen to RM18.20, BAT shed 30 sen to RM34.70 and Heineken slid 30 sen to RM18.18.
Oil prices rose as data showed Iran's oil exports fell in September ahead of US sanctions slated to start in November.
WTI crude gained nine cents to US$71.87 a barrel while Brent crude rose 28 cents to US$81.06 a barrel.
In currencies, the ringgit was flat against key currencies. It was unchanged against the US dollar at 4.1547, and flat against Singapore dollar at 2.0173 and pound sterling at 3.4619.
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