KUALA LUMPUR: The FBM KLCI was unable to hold on to the crucial 1,300 level at the midday break on Tuesday, March 16 despite it was off its early low as investors decided to take profit on CIMB and Proton, which had a strong run-up in recent weeks.

At 12.30pm, the FBM KLCI rose 0.17 point to 1,299.84, off the early high of 1,304.43. Turnover was 358.84 million shares valued at RM458.63 million. The broader was mixed with 250 gainers, 276 losers and 278 stocks unchanged.

Japan's Nikkei 225 fell 0.09% to 10,742.84, Hong Kong's Hang Seng Index shed 0.44% to 20,986.99 but Shanghai's Composite Index added 0.15% to 2,981.50 and Singapore's Straits Times Index edghed up 0.19% to 2,879.74.

Light crude oil slipped below US$80 per barrel, down nine sen to US$79.71, crude palm oil futures shed RM18 to RM2,557 but US spot gold addred US$4.60 to US$1,13.05.

At Bursa, Hai-O whose one-for-five bonus shares and one-into-two share split went ex, rose the most, adding 25 sen to RM4.58.  OSK Research raised its  ex-bonus and split fair value to RM5.04 from RM4.40 previously.

Hume Industries rose 19 sen to RM4.48 after Spectrum Arrangement Sdn Bhd, which intends to take it private, upped its offer price to RM4.50 from RM4.30.

KKB staged a technical rebound, up 18 sen to RM5.40. CIMB Equities Research said the strategy was to sell into strength, likely near the RM5.50-RM5.78 resistance levels.

Hong Leong Bank rose 10 sen to RM8.68 on hopes it would resume its takeover offer for EON Cap following the latest boardroom changes. EON Cap rose two sen to RM6.92.

PPB rose 18 sen to RM17.48, Litrak 16 sen to RM2.86, DiGi 16 sen also to RM22.54 and Top Glove 12 sen to RM12.30 while MMC Corp added 11 sen to RM2.49.

Nam Fatt fell seven sen to 11.5 sen and it was the most active with 32 million shares done. The shares fell after it triggered the PN17 criteria.

Genetec was flat at 48.5 sen after it was queried by Bursa Malaysia Securities over the unusual market activity.

Nestle fell the most, shedding 20 sen to RM34.10, KAF 17 sen to RM1.32, CIMB 16 sen to RM13.52 and Proton 14 sen to RM4.31.