KUALA LUMPUR (Nov 23): The FBM KLCI notched up limited gains at mid-moning and hovered below its resistance level of 1,730 points.

At 10am, the FBM KLCI added 2.70 points to 1,726.24.

The top gainers included Petron Malaysia Refining & Marketing Bhd, Lysaght Galvanized Steel Bhd, KESM Industries Bhd, CI Holdings Bhd, Hengyuan Refining Company Bhd, Hong Leong Industries Bhd, Hong Leong Bank Bhd, ViTrox Corp Bhd, Sarawak Oil Palms Bhd and Mercury Industries Bhd.

The actives included Hubline Bhd, PUC Bhd, China Stationery Ltd, Green Packet Bhd, Orion IXL Bhd and Sino Hua-An International Bhd.

The losers included British American Tobacco (M) Bhd, Malaysia Pacific Industries Bhd, New Hoong Fatt Holdings Bhd, Hartalega Holdings Bhd, Tasek Corporation Bhd, Kuala Lumpur Kepong Bhd, Batu Kawan Bhd, HeiTech Padu Bhd, iCapital Biz Bhd and Westports Holdings Bhd.

Asian shares edged ahead on Thursday as speculation the Federal Reserve might not tighten U.S. policy as aggressively as first thought slugged the dollar and boosted bonds globally, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.15 percent to scale a fresh 10-year peak. Activity was light with Japanese markets closed for a holiday and the United States off for Thanksgiving, it said.

Hong Leong IB Research in a traders’ brief said despite near term uncertainty about the US tax overhaul plans and Fed latest concern of surging US markets, Dow’s downside risks are likely to be well cushioned for the time being amid positive economy and corporate earnings outlook coupled with supportive monetary policies.

“Key supports are 22,800-23,000 while resistances are 23,800-24,000.

“On Bursa Malaysia, KLCI is building its base well above the 1,700-1,706 levels, supported by a grossly oversold market together with the ringgit and oil price strength.

“A decisive breakout above 1728 (38.2% FR) will spur greater upside towards 1740 (30-d SMA) and 1752 (200-d SMA) levels in the short term,” it said.