KUALA LUMPUR: Despite the rush into oversold counters in the previous session, the FBM KLCI was seen stagnating on Tuesday as investors were quick to lock in profits ahead of the Wesak Day holiday.
At 12.30pm, the country's main index was a mere 0.28 points higher at 1,572.10 after spending the morning session dipping in and out of the red.
Much of the negative pressure was contributed by the glove counters, which have been sold down amid the increasing pace of Covid-19 vaccination in the country.
Top Glove fell eight sen to RM5.18, Hartalega dropped 17 sen to RM9.31 and Supermax lost 15 sen to RM4.34.
Among the blue chips gaining momentum were Press Metal rising seven sen to RM5.19, Petronas Gas adding four sen to RM15.90, Sime Darby Plantation climbing three sen to RM4.54 and Tenaga Nasional rising three sen to RM9.97.
Top actives on the market were PiCorp up seven sen to 21 sen, Privasia gaining 1.5 sen to 27.5 sne and UCrest losing one sen to 42.5 sen.
Asian markets meanwhile were positive, tracking Wall Street's bullish performance overnight.
Japan's Nikkei was up 0.5% while South Korea's Kospi gained 0.7%.
China's main index meanwhile climbed 1.6% and Hong Kong's Hang Seng jumped 1.3%.
Australia's ASX200 added 0.6%.