KUALA LUMPUR (Dec 12): The FBM KLCI edged up at mid-morning today in line with its regional peers, following a report from the International Monetary Fund (IMF) that Malaysia's real gross domestic product (GDP) growth is projected at 5% to 5.5% in 2018.

At 10.05am, the FBM KLCI rose 1.03 points to 1,720.50.

Gainers led losers at 274 versus 225, while 290 counters traded unchanged.

Volume was 519.89 million shares valued at RM249.44 million.

The gainers included OldTown Bhd, Padini Holdings Bhd, Petronas Gas Bhd, Bursa Malaysia Bhd, Perak Corp Bhd, Hartalega Holdings Bhd, Malaysian Pacific Industries Bhd, IQ Group Holdings Bhd and Mercury Industries Bhd.

The actives included PUC Bhd, Green Packet Bhd, Borneo Oil Bhd, Trive Property Group Bhd, Sapura Energy Bhd, JAG Bhd, Inix Technologies Holdings Bhd and Kejuruteraan Asastera Bhd.

The losers included Panasonic Manufacturing Malaysia Bhd, Pos Malaysia Bhd, Ajinomoto (M) Bhd, Latitude Tree Holdings Bhd, Selangor Properties Bhd and Hong Leong Financial Group Bhd.

Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in US borrowing costs this week, according to Reuters.

The latest upbeat news came from China where banks doled out a surprisingly generous dose of credit in November, which could bode well for a pickup in retail sales and industrial output due later in the week, it said.

Hong Leong IB Research in a traders' brief said despite mild volatility ahead of FOMC decision, the Dow mid- to long-term outlook remained bright amid positive expectations of Trump's tax overhaul plans, positive economy and corporate earnings outlook, and supportive monetary policies coupled with expectations of more business-friendly policies.

"Dow's short-term supports are 23,200-23,500 while upside targets fall on 24,800-25,300.

"As 3Q17 reporting season was over (generally within market expectations), KLCI could inch up further in the seasonally stronger December month in anticipation of year-end window dressings (average of 1.9% gains in the last 10 years with 90% successful hit rates), supported by ringgit appreciation bias and oil price strength.

"Nevertheless, overall sentiment will remain edgy, underpinned largely by GE14 uncertainty and 2018 earnings prospects coupled with fears of vicious economic cycle as a result of the current episode of property imbalances. Weekly supports are 1,700-1,706 while resistances fall on 1,728-1,735 zones," it said.

Meanwhile, the IMF said Malaysia's real GDP growth has surprised on the upside and is projected at 5.5% to 6% for 2017, driven by domestic demand and robust exports, while inflation has increased on the back of higher oil prices and is projected at close to 4%.

The IMF's Nada Choueiri said real GDP growth is projected at 5% to 5.5% in 2018.