t 5pm, the KLCI was up 6.42 points or 0.39% to 1,671.31. Turnover was 1.53 billion shares valued at RM1.81bil. Decliners led advancers 467 to 322 while 358 counters were unchanged.

Most key Asian markets ended higher except for Japan's Nikkei, which dropped 1.1% while shares in Australia dropped 0.8 percent after the Trump administration, on its first day in office, declared its intention to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact that Japan and Australia also have signed up for, Reuters reported. 

The US dollar slid broadly on Monday after US President Donald Trump struck a protectionist tone in his inauguration speech, undermining optimism over the US economy spurred by his promises of tax cuts and other stimulus, Reuters added. 

The ringgit was up 0.16% to the US dollar at 4.4400 from the previous close of 4.4470. However, the riggit weakened against the pound sterling at 5.5163 from 5.4909 and slipped against the Singapore dollar at 3.1260 from 3.1185. It fell against the Euro to 4.7616 from 4.7433.

Sime Darby rose 18 sen to RM8.70 and pushed the KLCI up 2.02 of a point in active trade on expectations of a demerger and possible listing of its plantations unit and other corporate news.

MISC rose eight sen to RM7.38 and Tenaga Nasional four sen higher at RM13.90. Genting Bhf climbed three sen to RM8.38 and Genting Malaysia edged up two sen to RM4.81.

US oil ticked lower on Monday, falling for the first time in three sessions as prospects of rising US production weighed on the market. US light crude oil fell 32 cents to US$52.90 and Brent slipped 16 cents to US$55.33.

Petronas Chemicals fell six sen to RM7.13 but Petronas Gas added six sen to RM20.20 and Petronas Dagangan shed two sen to RM23.38. 

As for financial stocks, insurer LPI added 34 sen to RM17.10 while Aeon Credit gained 22 sen to RM16 and HLFG added 10 sen to RM14.80.

Public Bank climbed six sen to RM20.16, CIMB four sen to RM4.88, AmBank three sen to RM4.46, Hong Leong Bank two sen to RM13.18 and Maybank one sen higher at RM8.28 

Among the telcos, Telekom rallied 13 sen to RM6.16, Axiata six sen higher at RM4.72, Maxis and Digi were flat at RM5.99 and RM4.92.

Bumi Armada lost two sen to 62 sen in active trade on speculation it could have lost out to Yinson whose unit had received a letter of intent from Talisman Vietnam 07/03 B.V. (TLV) to supply a vessel for the Ca Rong Do field development in Block 07/03 in the Eastern Sea Offshore Vietnam. 

AirAsia fell in active trade, down 14 sen to RM2.44.

UMW Oil and Gas fell five sen to 68 sen in active trade also. CIMB Equities Research is negative on UMW-OG's plan to buy an offshore service vessels (OSV) player and a product tanker operator as well as issue rights to recapitalise and to fund the purchases.

“We are negative on these proposals as the acquirees are priced much higher than UMW-OG and the rights issue is unnecessarily large and dilutive,” it said.  

Crude palm oil for third-month delivery fell RM5 to RM3,096 per tonne. Matang dipped 0.5 sen to 13 sen in active trade. 

United Plantations fell 10 sen to RM26.90 and Chin Tek nine sen lower at RM7.80 while IOI Corp shed five sen to RM4.45, KL Kepong was flat at RM24.24 but PPB Group added two sen to RM16.12.

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