KUALA LUMPUR: High oil prices reined in the regional markets and curb investors’ appetite for equities on concerns of the adverse impact on weaker economies, particularly in Europe.
Another nagging concern was whether Germany's parliament would support the Greek bailout.
At the close, the FBM KLCI managed to eke out a 0.27of a point gain to 1,559.04. Turnover was 1.64 billion shares valued at RM1.63 billion. Losers beat gainers 327 to 455, while 341 counters traded unchanged.
Japan's Nikkei 225 fell 0.14% to 9,633.93, Singapore's Straits Index 1.05% lower at 2,946.78, South Korea's Kospi 1.42% to 1,991.16 and Hong Kong's Hang Seng Index 0.88% to 21,217.86.
However, Shanghai’s Composite Index managed to close up 0.30% to 2,447.06 and Taiwan's Taiex 0.28% to 7,959.34.
Reuters reported Brent crude slipped below US$125 on Monday, flagging after five days of gains pushed oil to 10-month highs on worries tension over Iran's disputed nuclear programme could lead to a disruption in Middle East supplies.
Brent has risen 16% this year, after a 13.3 percent gain in 2011, helping weaken recent strong correlations with stock markets.
Meanwhile, the world's 20 leading economies, the G20, piled pressure on Germany at the weekend to drop its opposition to a bigger European bailout fund, telling Europe it must put up extra money if it wanted more help from other countries.
At Bursa Malaysia, penny stocks were among the most active. Naim Indah Corp added one sen to 52.5 sen while Envair also inched up one sen to 30.5 sen.
Harvest Court rose 18 sen to RM1.23 and the warrants 15 sen to 98 sen as speculative interest return to the stock.
Consumer stocks were top gainers, with Dutch Lady up RM1.70 to RM27.5, Carlsberg 25 sen to RM9.70, Panasonic Malaysia and Guinness Anchor, both up by 20 sen to RM21.20 and RM12.94 respectively.
Among the losers were Hong Leong Industries, down 22 sen to RM3.99, Malpac fell 20 sen to RM1.50. Latexx-WA fell 14 sen to RM1.14 and Latexx 13 sen to RM1.55.
However, consumer heavyweight Nestle fell 28 sen to RM54.92,
CIMB Equities Research said earlier on Monday it was maintaining its Underperform call on Nestle at RM55.20 with a target price of RM48.30.
“While we like Nestle’s defensive earnings and huge consumer base, its 27 times FY12 P/E is pricey. We reiterate our Underperform call (DCF-based target price), with the main potential derating catalyst being volatile commodity prices,” it said.
Another nagging concern was whether Germany's parliament would support the Greek bailout.
At the close, the FBM KLCI managed to eke out a 0.27of a point gain to 1,559.04. Turnover was 1.64 billion shares valued at RM1.63 billion. Losers beat gainers 327 to 455, while 341 counters traded unchanged.
Japan's Nikkei 225 fell 0.14% to 9,633.93, Singapore's Straits Index 1.05% lower at 2,946.78, South Korea's Kospi 1.42% to 1,991.16 and Hong Kong's Hang Seng Index 0.88% to 21,217.86.
However, Shanghai’s Composite Index managed to close up 0.30% to 2,447.06 and Taiwan's Taiex 0.28% to 7,959.34.
Reuters reported Brent crude slipped below US$125 on Monday, flagging after five days of gains pushed oil to 10-month highs on worries tension over Iran's disputed nuclear programme could lead to a disruption in Middle East supplies.
Brent has risen 16% this year, after a 13.3 percent gain in 2011, helping weaken recent strong correlations with stock markets.
Meanwhile, the world's 20 leading economies, the G20, piled pressure on Germany at the weekend to drop its opposition to a bigger European bailout fund, telling Europe it must put up extra money if it wanted more help from other countries.
At Bursa Malaysia, penny stocks were among the most active. Naim Indah Corp added one sen to 52.5 sen while Envair also inched up one sen to 30.5 sen.
Harvest Court rose 18 sen to RM1.23 and the warrants 15 sen to 98 sen as speculative interest return to the stock.
Consumer stocks were top gainers, with Dutch Lady up RM1.70 to RM27.5, Carlsberg 25 sen to RM9.70, Panasonic Malaysia and Guinness Anchor, both up by 20 sen to RM21.20 and RM12.94 respectively.
Among the losers were Hong Leong Industries, down 22 sen to RM3.99, Malpac fell 20 sen to RM1.50. Latexx-WA fell 14 sen to RM1.14 and Latexx 13 sen to RM1.55.
However, consumer heavyweight Nestle fell 28 sen to RM54.92,
CIMB Equities Research said earlier on Monday it was maintaining its Underperform call on Nestle at RM55.20 with a target price of RM48.30.
“While we like Nestle’s defensive earnings and huge consumer base, its 27 times FY12 P/E is pricey. We reiterate our Underperform call (DCF-based target price), with the main potential derating catalyst being volatile commodity prices,” it said.
