KUALA LUMPUR (Jan 3): The FBM KLCI gained 0.42% at mid-morning today and crossed the 1,790-point level, lifted by select blue chips.

At 10am, the FBM KLCI rose 7.45 points to 1,790.15.

Gainers led losers by 459 to 218, while 327 counters traded unchanged. Volume was 1.44 billion shares valued at RM627.45 million.

The top gainers included Nestle (M) Bhd, Hengyuan Refining Company Bhd, Petronas Gas Bhd, Bursa Malaysia Bhd, My E.G. Services Bhd, DRB-Hicom Bhd, Genting Plantations Bhd, Tenaga Nasional Bhd, Petronas Dagangan Bhd and Wang-Zheng Bhd.

The actives included D.B.E. Gurney Resources Bhd, DGB Asia Bhd, Ho Wah Genting Bhd, Diversified Gateway Solutions Bhd and Malaysian Resources Corp Bhd.

The decliners included British American Tobacco (M) Bhd, Uchi Technologies Bhd, Hartalega Holdings Bhd, Negri Sembilan Oil Palms Bhd, Aeon Credit Service (M) Bhd, Globetronic Technologies Bhd, Latitude Tree Holdings Bhd, Tasek Corp Bhd and Atlan Holdings Bhd.

Asian stocks struck a fresh decade high on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronised upturn in world growth was well under way, according to Reuters.

Activity was especially strong in Europe, lifting bond yields there and driving the euro to within a whisker of its highest in three years against a beleaguered U.S. dollar, it said.

Hong Leong IB Research in a traders’ brief said in the US, although market sentiments remained bullish, the upside could be capped along 25,000 for the Dow as technical indicators are suggesting overbought signals.

“With the rich stock valuations, it may attract investors to lock in some profits after a stretched rally.

“On the local front, we may expect exciting trading activities within GLCs, coupled with China-linked stocks, ahead of the widely expected GE14.

“Also, investors may be focusing on technology sector, following the strong surge in tech giants in the US,” it said.