KUALA LUMPUR (April 7): The FBM KLCI pared some of its gains at the midday break today as the Public Accounts Committee (PAC) tabled the long awaited report on 1Malaysia Development Bhd (1MDB) in Parliament this morning.

The PAC wants former 1MDB chief executive officer Datuk Shahrol Halmi and other top executives to be investigated over the affairs of the troubled state-owned company, which had racked up debts of RM50 billion as at January 2016.

In a damning report tabled to Parliament this morning after several months of work in which dozens of people were called to testify, PAC also laid blame on the board of directors for failing to carry out their responsibilities.

At 12.30pm, the FBM KLCI rose 3.57 points to 1,720.58. The index had earlier risen to its intra-morning high of 1,722.21.

The top gainers included Panasonic Manufacturing Malaysia Bhd, DanaInfra Nasional Bhd, Latitude Tree Holdings Bhd, Public Bank Bhd, Malayan Banking Bhd, Telekom Malaysia Bhd, Kossan Rubber Industries Bhd, RHB Capital Bhd, MISC Bhd and Nestle (M) Bhd.

The actives included Malaysian Bulk Carriers Bhd, Asia Poly Holdings Bhd, Vivocom International Holdings Bhd, SapuraKencana Petroleum Bhd, Kanger International Bhd and AirAsia Bhd.

The decliners included Petronas Gas Bhd, British American Tobacco (Malaysia) Bhd, Amway (Malaysia) Holdings Bhd, Kuala Lumpur Kepong Bhd, Genting Bhd, UMW Holdings Bhd, Aeon Credit Services (M) Bhd, Hong Leong Industries Bhd, Fraser & Neave Holdings Bhd and IOI Corporation Bhd.

Asian share markets edged ahead on Thursday after a sharp rise in oil prices whetted risk appetites and boosted Wall Street, with even Japanese stocks regaining a little ground despite a rising yen, according to Reuters.

The dollar also stayed under pressure after minutes from the latest Federal Reserve meeting showed many participants wanted to move cautiously on rate hikes, partly because there was little room to ease policy should things turn for the worse, it said.

BIMB Securities Research said that in Asia, key indices ended mixed yesterday as investors remained concern about the strength of the Chinese economy while the rally in oil price helped some countries to close higher.

It said that back home, the FBM KLCI ended flattish, losing 1.07 points or 0.06% to 1,717.01.

"Trading participation saw net selling by foreign institutions while local institutions and retail were net buyers.

"We expect the local market to remain sideways due to lack of fresh catalyst with the index to hover around 1,715-1,720," it said.