KUALA LUMPUR: Banks weighed down the FBM KLCI at the midday break on Monday, Nov 30 though the 30-stock barometer was off its initial lows but key Asian markets of Hong Kong and Japan rallied.

At Bursa, some companies with exposure to Dubai and Vietnam were among the decliners. They included WCT, LCL, Gamuda and Hong Leong Bank.

At 12.30pm, the FBM KLCI was down 3.61 points to 1,264.3. Turnover was 542 million shares valued at RM802.7 million.  Decliners battered advancers 583 to 77 while 158 stocks were unchanged.

Hong Kong's Hang Seng Index jumped 3.3% to 21,830.61 while Japan's Nikkei 225 rose 2.44% to 9,303.34 and Shanghai's Composite Index rose 2.53% to 3,174.49 while Singapore's Straits Times Index fell 0.9% to 2,737.74.

Light crude oil rose 62 cents to US$76.67, gold added 17 cents to 1,177.79 while crude palm oil futures fell RM18 to RM2,464. 

WCT, which has exposure to debt-laden Dubai and Vietnam, fell eight sen to RM2.44 while interior outfit LCL fell three sen to 30.5 sen. Gamuda, which is undertaking a project in Vietnam lost eight sen to RM2.67. Hong Leong Bank, which has banking operations in Vietnam, fell 19 sen to RM7.99 as investors took the opportunity to lock in gains.

Axiata, which is scheduled to announce its results on Monday, fell five sen to RM3.05, dragging the FBM KLCI down 1.02 points.

Among the banks, EON Cap fell 13 sen to RM5.82, Public Bank eight sen lower at RM10.84, CIMB four sen to RM12.84 while Maybank eased three sen to RM6.80.

Berjaya Media-PA fell the most, down 28.5 sen to 67.5 sen, F&N 16 sen to RM11.02 and Uzma 13 sen to RM1.45.

Among plantations, Far East fell 25 sen to RM6.25, BLD Plantation lost 23 sen to RM3.77, Harisons 17 sen to RM2.01 while IOI-OR lost 17 sen to RM2.34.

KNM was the most active, down 3.5 sen to 72.5 sen with 54.2 million shares done. Maxis was actively traded, rising eight sen to RM5.45 and Maxis-CD added 1.5 sen to 22.5 sen but Maxis-CA lost 0.5 sen to 17.5 sen.

Magni Tech was the top gainer, posting a 15 sen increase to 98 sen but with only 1,000 shares done. Dutch Lady rose 14 sen to RM12.20, Green Packet-WA 8.5 sen to 59 sen and Jerneh-WA 7.5 sen higher to 73 sen.