KUALA LUMPUR: Blue chips slipped early Monday on some selling pressure on IOI Corp and a softer ringgit versus the US dollar while AirAsia was in focus.
At 9.44am, the KLCI was down 3.03 points or 0.18% to 1,700.76. Turnover was 359.58 million shares valued at RM185.22mil. There were 200 gainers, 200 losers and 244 counters unchanged.
Reuters reported oil prices rose in early Asian trading on Monday after a three-day break, but volumes were tiny as a number of markets remain on holiday for Easter.
US crude was up 37 cents at US$39.83. Last Thursday, it fell 33 cents to US$39.46 a barrel, recovering from a session low of $38.33. Brent rose 24 cents to US$40.68 a barrel.
Foreign funds were net buyers on Bursa Malaysia in the week ended March 25 at RM1.366bil but they were net sellers on Friday at -RM15.6mil.
JF Apex Research said despite last Friday's correction, the KLCI remains in the upward trend and is expected to consolidate above the psychological level of 1,700.
Plantations were among the losers, with KL Kepong down 10 sen to RM23.90 but with 1,400 shares done, IOI Corp eight sen to RM4.57, IOI Corp-C8 dn 5.5 sen to 15.5 sen and Kwantas six sen to RM1.44. Howveer, Genting Plantations rose 14 sen to RM11.20 with 1,000 shares done.
Panasonic Malaysia was the top loser, down 16 sen to RM30, Globetronics lost 10 sen to RM5.40 and IHH Healthcare nine sen to RM6.44.
As for consumer stocks, BAT fell 12 sen to RM54.98, Dutch Lady
rose 90 sen to RM51.90, Apollo regained 10 sen to RM6.20.
AirAsia was in focus on its turnaround, up six sen to RM1.87 with 17.90 million shares done. AirAsia X-WA edged up 0.5 sen to 15 sen.
Comintel Corp extended its gains, adding six sen to 89 sen in active trade.
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