KUALA LUMPUR (June 25): The FBM KLCI opened 12.87 points or 0.8% higher before paring gains as investors evaluated the impact of global crude oil producers' planned less-than-expected output rise and as Asian shares fell with US equity futures.

Reuters reported that the US' S&P500 mini futures fell as much as 0.5 percent in early trade while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent. The falls were triggered by a report from Wall Street Journal that U.S. President Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

At Bursa Malaysia, the KLCI opened at 1,707.02 at 9am. At 9:14am, the KLCI was up 5.61 points at 1,699.76.

"The evident weakening of trend indicators on the FBM KLCI following last week's steep correction implies potential for further significant weakness ahead. On the other hand, the more oversold market condition after the index suffered losses for nine straight trading days suggests good likelihood for technical rebound gains this week, TA Securities Holdings Bhd wrote in a note today.

"Meantime, oil & gas related stocks should stage recovery following the lesser production increase agreed by OPEC in last Friday's meeting which helped spark a substantial rebound in crude oil prices," TA said.