KUALA LUMPUR (Sept 12): The FBM KLCI advanced this morning in line with the gains at most regional markets, lifted by key heavyweights at the local bourse.

At 9.05am, the FBM KLCI rose 1.17 points to 1,783.91.

The top gainers included Nestle (M) Bhd, Hengyuan Refining Company Bhd, Lotte Chemical Titan Holding Bhd, Pentamaster Corp Bhd, Tenaga Nasional Bhd, Malayan Banking Bhd, IQ Group Bhd, Petron Malaysia Refining &Marketing Bhd, MMS Venture Bhd and Public Bank Bhd.

Asian shares joined a global equities rally, hitting a 10-year peak on Tuesday with investors breathing a sigh of relief as North Korean fears eased slightly and the worst-case scenario from Hurricane Irma looked to have been avoided, according to Reuters.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1 percent to its highest level since late 2007. Japan’s Nikkei 225 rose 1.0 percent, it said.

JF Apex Securities Research in a market preview today said US markets rallied overnight with the S&P hitting a record high after damage from Hurricane Irma was not as bad as expected.

It said that similarly, European markets jumped after Hurricane Irma was downgraded to a tropical storm.

“On the local market, the FBM KLCI gained 2.84 points to 1782.74 points.

“Following the bullish performance in the US and Europe, the FBM KLCI could follow suit and climb towards the resistance of 1800 points,” it said.