18/06/2014 (The Star) - A mild rebound in the crude palm oil (CPO) futures failed to garner enough investor interest to support the plantation-heavy FBM KLCI as investors mostly treaded cautiously amid worries about the escalating Iraq conflict.

At 12.30pm, the KLCI was down 0.50 of a point to 1,871.08. Turnover was 847 million shares valued at RM659.95mil. There were 329 gainers, 327 decliners and 336 counters unchanged.

Asian markets were cautious as the double-whammy of a deepening conflict in Iraq and a gas dispute between Ukraine and Russia sapped investors' appetite for risk, Reuters reported.

Crude palm oil rose RM19 to RM2,447 at midday. IOI Corp fell eight sen to RM5.07 and erased 1.06 points from the KLCI. PPB Group shed two sen to RM15.08 but FGV added five sen to RM4.34.

Petronas-related stocks fell with PetDag down 10 sen to RM24.121 and Petronas Gas eight sen to RM24.10 but Petronas Chemicals added three sen to RM6.78. Another oil and gas related services player Uzma lost 30 sen to RM6.42.

Top Glove fell nine sen to RM4.49 ahead of its third quarter results on Tuesday.

CIMB and Maybank fell two sen each to RM7.15 and RM9.80 but RHB Cap added three sen to RM8.47 and Hong Leong Bank two sen to RM13.78.

Consumer stocks were mixed with Nestle down 30 sen to RM66.70 but BAT rose 72 sen to RM66.68 and GAB 12 sen to RM13.34.

Takaful rose 12 sen to RM13 and 7-Eleven 14 sen to RM1.95.

The ringgit weakened against the dollar at 3.2285 from 3.2250 the previous close.

Japan's Nikkei 225 rose 0.35% to 14,985.38;

Hong Kong's Hang Seng Index fell 0.56% to 23,170.29;

Shanghai's Composite Index fell 0.83% to 2,068.70;

Taiwan's Taiex rose 0.40% to 9,239.95;

South Korea's Kospi rose 0.25% to 1,998.63;

Singapore's Straits Times Index fell 0.52% to 3,273.31.

US light crude oil fell 35 cents to US$106.55 and Brent fell 40 cents to US$112.54.

Spot gold fell US$5.98 to US$1,266.02.