KUALA LUMPUR: The FBM KLCI was flat as it approached midday, with traders keeping to the sidelines ahead of new developments in the Middle East and fresh earnings results over the coming week.
At 12.30pm, the key index was just 0.58 points higher at 1,737.29, after moving within a narrow trading range of 1,733.13 and 1,738.3.
YTL Power helped to lift the index, rising 19 sen to RM5.35, following the release of its quarterly results yesterday. Plantation plays always offered support; PPB rose 32 sen to RM10.22 and Kuala Lumpur Kepong jumped 20 sen to RM21.64.
Nestle shaved RM1.50 to RM103.30 while Telekom Malaysia fell 13 sen to RM7.97.
While the blue chips held steady, the broader market was seen turning negative with 627 declining issues compared to 456 advancing. The trading volume was 2.39 billion shares changing hands for RM1.61bil.
Sectors driving the market higher included plantations, up 0.82%, financial services, energy rising 0.39% and utilities gaining 0.37%.
Technology stocks weighed 1.31%, while property and transport stocks dropped 0.33% each.
Among the most active shares, NexG rose 0.5 sen to 33.5 sen amid news of the government's potential takeover of its passport supplier unit, Datasonic Bhd. AirAsia dove seven sen to 81.5 sen and Zetrix AI was flat at 65 sen.
Meanwhile, regional markets bounced back from recent losses although they reeamined headed for weekly declines. South Korea's Kospi rose 0.4% to 6,879 after a mid-week slump on the back of profit-taking in technology shares.
Japan's Nikkei shaved 0.39% to 65,961, extending its fall for the week.
China's Shangai Composite index was flat at 3,903, the CSI 300 rose 0.52% to 4,616 and Hong Kong's Hang Seng climbed 0.67% to 25,870.
