KUALA LUMPUR (June 11): The FBM KLCI advanced this morning in line with the uptrend at most regional markets.

At 10am, the FBM KLCI was up 3.25 points to 1,738.88.

The top gainers included United Plantations Bhd, Super Enterprise Holdings Bhd, Kuala Lumpur Kepong Bhd, Public Bank Bhd, NCB Holdings Bhd,Syarikat Takaful Malaysia Bhd, Top Glove Corporation Bhd, MNRB Holdings Bhd and Genting Plantations Bhd.

The actively traded stocks included AirAsia X Bhd, Voslar Group Bhd, Metronic Global Bhd, Frontken Corporation Bhd, IFCA MSC Bhd and Nova MSC Bhd.

The top losers included Nestle (M) Bhd, Hong Leong Bank Bhd, Kossan Rubber Industries Bhd, British American Tobacco (M) Bhd, UMW Holdings Bhd and Petronas Gas Bhd.

Asian stocks gained early on Thursday after seeing Wall Street shares halt their selloff, while the New Zealand dollar tumbled to a five-year low after the Reserve Bank there cut its overnight cash rate.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Tokyo's Nikkei added 1 percent while Australian shares gained 0.9 percent and South Korea's Kospi advanced 0.5 percent.

Hong Leong IB Research said that having nose-dived 7% or 131 pts in six weeks from year-to-date high of 1867 (27 Apr) to 1729 on 9 June, we may witness some technical rebound in the near term, given the presence of local funds support ahead of the widely-anticipated June window dressing and oversold technical momentum.

“Immediate resistance levels are situated at 1746 (61.8% FR) and 1769 (50% FR).

“However, any rebound may be capped near 1769 zones amid nagging domestic issues,” it said.