KUALA LUMPUR: Maxis and Axiata led the FBM KLCI higher at midday on Monday, tracking the key Asian markets, while the ringgit continued to advance against the key currencies except the euro and crude oil prices were steady.At 12.30pm, the KLCI was up 7.61 points or 0.46% to 1,653.83. Turnover was thin with 479.43 million shares done valued at RM407.69mil. US light crude oil fell five cents to US$48.94 and Brent four cents lower at US$50.31.Petronas Gas added eight sen to RM22 whiule Petronas Chemicals and Petronas Dagangan were flat at RM6.57 and RM23.48. PPB Group was up eight sen to RM16.46, KL Kepong gained six sen to RM23.24, IOI Corp four sen to RM4.39 and Sime Darby was flat at RM7.60.Oil futures were steady on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. There were 257 gainers, 289 losers and 304 counters unchanged.Most emerging Asian currencies rose on Monday in subdued trading as investors continued to seek the region's higher yields on expectations that central banks in developed countries may ease monetary policies further, Reuters reported.The ringgit rose to 3.9955 against the US dollar from 3.9983 and it was firmer against the pound stelring at 5.3082 from 5.3192.

Source: Mid-Day July 04, 2016 05:15 UTC