KUALA LUMPUR: The FBM KLCI erased most of the gains from earlier in the day as investors were quick to take profit amid the heightened uncertainty in the external environment.
However, plantations stocks stayed on a rally as crude palm oil prices continued to trend higher.
At the lunch break, the benchmark index was up 1.09 points to 1,595.38, after trading within a nine-point range of 1,594.64 to 1,603.94.
The index is continuing its sideways trend although analysts say it is expected to pick up in light of year-end window-dressing activities.
The broader market, however, remains weak as investors sold down 518 stocks and bought higher 428 others.
Share turnover was 1.68 billion changing hands for RM1.06bil.
Press Metal
stood out after climbing 26 sen to RM4.90 while Telekom Malaysia rose 13 sen to RM6.48.
Plantations stocks surged with Kuala Lumpur Kepong rising 62 sen to RM21.48, SD Guthrie jumping 15 sen to RM4.96 and IOI adding six sen to RM3.86.
Top actives on the market were Velesto down 0.5 sen to 15.5 sen, Ta Winn flat at 2.5 sen and Capital A unchanged at RM1.
Regionally, key markets moved higher on the back of record closes on Wall Street last Friday.
However, gains were limited as investors remained wary of the impact of incoming US President Donald Trump as well as the Federal Reserve's upcoming final monetary policy decision for the year.
China's composite index rose 1.02% to 3,360 and Hong Kong's Hang Seng added 0.23% to 19,468.
Japan's Nikkei gained 0.71% to 38,469 while Singapore's Straits Times rose 0.39% to 3,754.
