KUALA LUMPUR (Dec 11): The FBM KLCI rose 0.22% at mid-morning as foreign funds have been making a steady return to Bursa Malaysia.

Foreign investors acquired RM337.7 million in Malaysian equity last week compared with RM272.3 million the prior week, according to MIDF Amanah Investment Bank Bhd Research.

At 10am, the FBM KLCI rose 3.74 points to 1,724.99.

Gainers led losers by 270 to 187, while 256 counters traded unchanged. Volume was 371.49 million shares valued at RM191.25 million.

The top gainers included Nestle (M) Bhd, Hong Leong Bank Bhd, Petron Malaysia Refining & Marketing Bhd, Hartalega Holdings Bhd, Hengyuan Refining Company Bhd, Top Glove Corporation Bhd, Ajinomoto (M) Bhd, Hong Leong Financial Group Bhd and SKP Resources Bhd.

The actives included Sapura Energy Bhd, PUC Bhd, Vivocom Intl Holdings Bhd, Green Packet Bhd, Hibiscus Petroleum Bhd, NetX Holdings Bhd, Borneo Oil Bhd and Sino Hua-An International Bhd.

The decliners included British American Tobacco (M) Bhd, Heineken Malaysia Bhd, Selangor Properties Bhd, Genting Plantations Bhd, Latitude Tree Holdings Bhd, Westports Holdings Bhd and HCK Capital Group Bhd.

Futures in bitcoin, which has taken global financial markets by storm, got off to a volatile start at its launch, while the US dollar kept gains in Monday's Asian session on expectations the Federal Reserve will stick to its tightening path, according to Reuters.

The most-traded contract on the Chicago-based CBOE Global Markets exchange opened at US$15,460, then leapt to a high of US$16,660 and was last quoted at US$16,050, a more than US$1,000 premium to the price on the Luxembourg-based Bitstamp, it said.

Hong Leong IB Research in a traders' brief said investors will focus on the progress of the tax bill reform in the US to firm up their decisions on sectors to be invested.

"Also, the next major event that may change the tone of the stock markets could be the upcoming FOMC meeting. Should there be any unexpected interest rates decision, it may heighten the volatility in the stock markets.

"Meanwhile, stocks on our local bourse may expect mild pickup in buying support on the back of steady inflows of foreign funds over the past two weeks.

"Hence, we think the window-dressing activities may pick up over the next two weeks. The FBM KLCI could see further upside towards 1,730-1,740," it said.