KUALA LUMPUR (Sept 12): The FBM KLCI pared some of its gains at the midday break today, but managed to stay above the 1,780-point level.

At 12.30pm, the benchmark index was up 2.22 points to 1,784.96. The index had earlier risen to its intra-morning high of 1,786.60.

Gainers led losers by 358 to 288, while 476 counters traded unchanged. Volume was 2.21 billion shares, valued at RM948.21 million.

The top gainers included Petronas Gas Bhd, Petron Malaysia Refining & Marketing Bhd, Nestle (M) Bhd, Ajinomoto (M) Bhd, Panasonic Manufacturing Malaysia Bhd, Lafarge Malaysia Bhd, PMB Technology Bhd, United Plantations Bhd, MISC Bhd and Fraser & Neave Holdings Bhd.

The actives included MQ Technology Bhd, NetX Holdings Bhd, AirAsia X Bhd, Sino Hua-An International Bhd, Key Alliance Group Bhd, PUC Bhd and Palette Multimedia Bhd.

The losers included Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd, Perusahaan Sadur Timah Malaysia Bhd, Bursa Malaysia Bhd, British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd and Batu Kawan Bhd.

Asian shares hit a 10-year peak on Tuesday with investors breathing a sigh of relief, as North Korean fears eased slightly and the worst-case scenario from Hurricane Irma looked to have been avoided, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2% to its highest level since late 2007. Japan's Nikkei 225 added 1.0%.

Affin Hwang IB vice president and head of retail research Datuk Dr Nazri Khan Adam Khan said Asian markets are expected to open on positive note today, following record close of the U.S market in overnight trading.

In addition, the United Nation Security Council has approved new sanctions to North Korea (cut imports of refined petroleum, ban textile), Dr Nazri said. European Central Bank to slow down bond buying program, has boosted bullish sentiments in stocks.

“In the local market, bullish sentiments gradually increase, following better than expected July IPI; Bursa Malaysia, small and mid cap stocks are anticipated continue. Accumulate quality stocks.

“The FBM KLCI is anticipated to move sideways and establish supports along 1770-1740 trading range. Buy quality stocks on price weakness,” he said.