KUALA LUMPUR (July 13): The FBM KLCI dipped in early trade today ahead of the holiday-shortened week as most investors were seen staying on the sideline.

At 9.01am, the FBM KLCI dippded 5.03 points to 1,710.55.

The top losers included UMW Holdings Bhd, Public Bank Bhd, UEM Edgenta Bhd, Westports Holdings Bhd, Sime Darby Bhd, Time DotCom Bhd, Cahya Mata Sarawak Bhd, Hong Leong Bank Bhd and Tan Chong Moto Holdings Bhd.

The euro slipped in Asia on Monday while top-rated bonds caught a safe-haven bid as the Greek debt crisis seemed set to rumble on for yet another week while a key reading on economic growth loomed for Chinese markets, according to Reuters.

The moves were mild, with investors wary of over reacting after having seen so many deadlines come and go with no resolution of the crisis in Greece, it said.

JF Apex Securities Research in a market preview today said US markets gained on Friday on hopes of a resolution in Greece's debt problems and improved sentiment in Chinese equities.

Similarly, it said European stocks also rose on Friday as Greece submitted its reform proposals and Chinese markets rebounded. 

“On the local market, the FBM KLCI rose 14.04 points to 1715.58 points to extend the rebound.

“Following last week's rally, the index still fall short of breaking the downtrend line.

“Markets will react to creditors' decision on Greece's debt proposals for this week. We expect Greece uncertainty to continue to weigh on market sentiment today,” it said.