KUALA LUMPUR (May 26): The FBM KLCI clung on to its meagre gains at mid-morning, lifted by index-linked plantation related stocks.

At 9.58am, the FBM KLCI was up 0.24 points to 1,774.20.

The top gainers included Kuala Lumpur Kepong Bhd, Hap Seng Consolidated Bhd, Pentamaster Corp Bhd, PPB Group Bhd, Sime Darby Bhd, Lion Industries Bhd, Time dotCom Bhd, United U-Li Corp Bhd, Uzma Bhd and JHM Consolidation Bhd.

The actives included NetX Holdings Bhd, AirAsia X Bhd, Anzo Holdings Bhd, PUC Founder MSC Bhd, Lion Industries, Inta Bina Group Bhd, OldTown Bhd, Iris Corp Bhd and AirAsia Bhd.

The losers included British American Tobacco (M) Bhd, OldTown, United Plantations Bhd, Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd. GD Express Carrier Bhd and Genting Malaysia Bhd.

Asian stocks dropped, turning away from Wall Street's strong performance overnight, Reuters said.

JF Apex Securities Research in a market preview today said US markets advanced overnight with the S&P and Nasdaq hitting record highs after being lifted by tech counters.

Hong Leong IB Research said that in the US, the market could trend higher with the sustained buying sentiments after market environment is flushed with positive news flows.

“However, should there be any resurfacing of disappointments from Trump's policies, we expect market may consolidate again. The Dow's will be ranging between the 20,500-21,200 levels.

“Despite overseas stock markets ended on a bullish note, we opine that sentiments on the local front are likely to stay mixed as Brent oil prices plunged after the OPEC meeting, as the extension of production cutting measure into March 2018 is widely anticipated.

“Hence, any upward momentum may be curtailed around 1,780 on the back of profit taking activities within the oil and gas heavyweights,” it said.