KUALA LUMPUR (May 21): The FBM KLCI settled up 3.96 points or 0.25% on bargain hunting while the technology index fell the most among Bursa Malaysia indices as world equities took cue from the US' restrictions on Huawei Technologies Co Ltd. Analysts said the restrictions on Huawei appeared to have worsened the US-China trade war sentiment.

At 12:30pm, the KLCI settled up at 1,609.32 after falling to its lowest so far today at 1,603.70. The technology index settled down 0.75 point or 2.34% at 31.26 as the largest decliner by percentage among Bursa Malaysia indices.

"With the news around the US and Huawei taking a turn for the worse, it seems that the trade war is increasingly showing signs of becoming a tech war," Reuters quoted Seema Shah, senior global investment strategist at Principal Global Investors, as saying in London.

Across Bursa Malaysia, 920.43 million shares were traded for RM590.29 million. Top decliners included semiconductor-related stocks Malaysian Pacific Industries Bhd (MPI) and Pentamaster Corp Bhd.

MPI settled down 28 sen at RM9.22 while Pentamaster fell 22 sen to RM4.12.

Malaysian shares resumed trading today after markets here were closed on Monday (May 20) in lieu of Wesak Day, which fell on Sunday (May 19). Tomorrow (May 22), markets here will be closed for the Nuzul Al'Quran holiday.