KUALA LUMPUR (Feb 27): The FBM KLCI rose 0.53% at the midday break today but struggled to breach the 1,870-point level as sellers overtook buyers.

At 12.30pm, the FBM KLCI pared some of its gains and was up 9.79 points to 1,869.87. The index had earlier risen to its intra-morning high of 1,872.35.

Losers led gainers by 342 to 294, while 621 counters traded unchanged. Volume was 1.64 billion shares valued at RM1.22 billion.

The top gainers included Dutch Lady Milk Industries Bhd, Hong Leong Bank Bhd, Hong Leong Financial Group Bhd, Ajinomoto (M) Bhd, PPB Group Bhd, Muda Holdings Bhd, Bursa Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Apex Healthcare Bhd, Petronas Gas Bhd and Nestle (M) Bhd.

The actives included Karambunai Corp Bhd, NetX Holdings Bhd, Borneo Oil Bhd, DGB Asia Bhd, Sumatec Resources Bhd, EA Holdings Bhd, Green Packet Bhd and AirAsia X Bhd.

The decliners included Pos Malaysia Bhd, Latitude Tree Holdings Bhd, Tong Herr Resources Bhd, Padini Holdings Bhd, Axiata Group Bhd, Magni-Tech Industries Bhd and UMW Holdings Bhd.

Asian shares extended their recovery on Tuesday, hitting a three-week high as US borrowing costs eased ahead of Federal Reserve chairman Jerome Powell's highly-anticipated first congressional testimony later in the day, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, building on its bounce from a two-month low touched on Feb 9, it said.

CIMB Retail Research said the local bourse did not respond to the overnight global rally yesterday.

It said the key index pared early gains on lack of buying sentiment.

"Nevertheless, the bullish rising three-like candle pattern which was formed recently remains valid.

"Coupled with the three consecutive days of gains on Dow, the local market may see some buying support. Resistance: 1,880 & 1,896 Supports: 1,840 & 1,815," it said.