KUALA LUMPUR : The Malaysian stockmarket benchmark, which fell as much 1% or close to 15 points in morning trade, cut its losses toward middday on Monday, Feb 28 as investors weigh the impact of rising oil prices on Asian economies.
At 12.30pm, the FBM KLCI was at 1,487.62, down 0.1% at 12.30pm.Across the bourse, 569 million shares'' worth RM812 million changed hands. There were 62 gainers versus 564 decliners.
The most active stock was TANCO HOLDINGS BHD [] which added 1.5 sen to 41.5 sen while the top gainer was BRITISH AMERICAN TOBACCO (M) [] Bhd which rose RM1.12 to RM47.92. Top decliner DUTCH LADY MILK INDUSTRIES BHD [] fell 56 sen to RM15.34 .
Dutch Lady fell 56 sen to RM15.34, Proton 19 sen to RM3.90 and Southern Steel 15 sen to RM2.08.
Among PLANTATION []s, Batu Kawan and KL Kepong fell 40 sen each to RM15.19 and RM19.80 while Kulim shed 23 sen to RM3.45.
BAT rose RM1.12 to RM47.92, Pet Dag and DiGi 40 sen each to RM13.54 and RM26.20.
According to TA Securities, there are still good reasons to accumulate blue-chip stocks'' against the backdrop of a still-robust economy, favourable commodity prices, and corporate earnings growth.
"Accumulate on weakness," TA Securities wrote in a note.
Across regional indices, notable decliners include South Korea's Kospi which fell 1.1% to 1,942.85 points and Singapore Straits Time which lost 0.37% to 3,013.91.
The ringgit was traded weaker at 3.0525 against the US dollar. Crude oil futures for in New York rose USD1.84 to US$99.72 a barrel while spot prices for gold climbed USD2.80 to USD1,413.40 an ounce.'' Malaysian palm oil futures rose as much as RM75 or 2.1% to RM3,617 a tonne.
Political uncertainties in North Africa and the Middle East, which account for more than a quarter of world crude oil output, have fueled concerns in oil markets, sending prices of the commodity to fresh highs in recent days.
As crude oil prices pierced the US$100 a barrel once again, a level not seen since 2008, the spectre of a derailment in global economic recovery becomes a crucial highlight as world economies work their way out of the slump triggered by the global financial crisis in recent years.
Economists and analysts said high oil prices will have a negative net effect on the world economy. This is in anticipation that sustained high prices of the commodity would curb economic activity, hurt corporate earnings, and government finances, and fuel inflation.
The impact on financial markets is also hard to ignore as corporate earnings will be reflected in stock markets, while rising inflation will influence monetary policies which, in turn, have a hand in dictating money supply and foreign exchange rates.
At 12.30pm, the FBM KLCI was at 1,487.62, down 0.1% at 12.30pm.Across the bourse, 569 million shares'' worth RM812 million changed hands. There were 62 gainers versus 564 decliners.
The most active stock was TANCO HOLDINGS BHD [] which added 1.5 sen to 41.5 sen while the top gainer was BRITISH AMERICAN TOBACCO (M) [] Bhd which rose RM1.12 to RM47.92. Top decliner DUTCH LADY MILK INDUSTRIES BHD [] fell 56 sen to RM15.34 .
Dutch Lady fell 56 sen to RM15.34, Proton 19 sen to RM3.90 and Southern Steel 15 sen to RM2.08.
Among PLANTATION []s, Batu Kawan and KL Kepong fell 40 sen each to RM15.19 and RM19.80 while Kulim shed 23 sen to RM3.45.
BAT rose RM1.12 to RM47.92, Pet Dag and DiGi 40 sen each to RM13.54 and RM26.20.
According to TA Securities, there are still good reasons to accumulate blue-chip stocks'' against the backdrop of a still-robust economy, favourable commodity prices, and corporate earnings growth.
"Accumulate on weakness," TA Securities wrote in a note.
Across regional indices, notable decliners include South Korea's Kospi which fell 1.1% to 1,942.85 points and Singapore Straits Time which lost 0.37% to 3,013.91.
The ringgit was traded weaker at 3.0525 against the US dollar. Crude oil futures for in New York rose USD1.84 to US$99.72 a barrel while spot prices for gold climbed USD2.80 to USD1,413.40 an ounce.'' Malaysian palm oil futures rose as much as RM75 or 2.1% to RM3,617 a tonne.
Political uncertainties in North Africa and the Middle East, which account for more than a quarter of world crude oil output, have fueled concerns in oil markets, sending prices of the commodity to fresh highs in recent days.
As crude oil prices pierced the US$100 a barrel once again, a level not seen since 2008, the spectre of a derailment in global economic recovery becomes a crucial highlight as world economies work their way out of the slump triggered by the global financial crisis in recent years.
Economists and analysts said high oil prices will have a negative net effect on the world economy. This is in anticipation that sustained high prices of the commodity would curb economic activity, hurt corporate earnings, and government finances, and fuel inflation.
The impact on financial markets is also hard to ignore as corporate earnings will be reflected in stock markets, while rising inflation will influence monetary policies which, in turn, have a hand in dictating money supply and foreign exchange rates.
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