KUALA LUMPUR (Nov 21): The FBM KLCI clawed back at the midday break today to cross the 1,720-point mark, in tandem with the advance at most regional markets, lifted by select blue chips.

At 12.30pm, the FBM KLCI rose 3.06 points to 1,721.42. The index had earlier slipped to its intra-morning low of 1,716.45.

Market breadth, however, was negative with 459 losers and 169 gainers, while 519 counters traded unchanged.

Volume was 1.16 billion shares, valued at RM887.67 million.

Top gainers included Nestle (M) Bhd, Aeon Credit Service (M) Bhd, Press Metal Aluminium Holdings Bhd, Kuala Lumpur Kepong Bhd, KESM Industries Bhd, PPB Group Bhd, Hong Leng Industries Bhd, Tenaga Nasional Bhd and RHB Bank Bhd.

The actives included Sumatec Resources Bhd, DGB Asia Bhd, Palette Multimedia Bhd, Tiger Synergy Bhd, Trive Property Group Bhd, Dagang NeXchange Bhd, Kejuruteraan Asastera Bhd, PUC Bhd and Sino Hua-An International Bhd.

The decliners included Heineken Malaysia Bhd, Allianz Malaysia Bhd, British American Tobacco (M) Bhd, Malaysian Pacific Industries Bhd, Apex Healthcare Bhd, ViTrox Corp Bhd, Top Glove Corp Bhd, United Malacca Bhd and Prestariang Bhd.

Asian stocks edged higher on Tuesday, as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers, thanks to higher U.S. yields and a floundering euro, according to Reuters.

Overnight gains on Wall Street also helped MSCI's broadest index of Asia-Pacific shares outside Japan rise 0.5% and back towards a decade-high struck earlier this month, Reuters said.

CIMB Retail Research said the FBM KLCI index was down 3.30 points or 0.19% yesterday, despite firmer oil prices and a stronger ringgit.

“The market is likely to remain sluggish, in tandem with the Asian market, amid concerns over U.S. tax reform.

“The release of the U.S. FOMC minutes on Thursday may be another concern for the market.

“Resistance: 1,729 & 1,750. Support: 1,705 & 1,685,” the research house said.