KUALA LUMPUR (Jan 12): The FBM KLCI pared some of its gains at mid-morning today but remained above the crucial 1,800-level.

At 10am, the FBM KLCI pared some of its gains and was up 2.82 points to 1,819.70. The index had earlier risen to a high of 1,825.81.

Gainers led losers by 413 to 218, while 343 counters traded unchanged. Volume was 807.46 million shares valued at RM399.67 million.

The top gainers included Nestle (M) Bhd, Kuchai Development Bhd, Petronas Gas Bhd, Kuala Lumpur Kepong Bhd, Kluang Rubber Company (Malaya) Bhd, Sungei Bagan Rubber Company (Malaya) Bdh, Hong Leong Bank Bhd, Top Glove Corp Bhd and Malaysia Airports Holdings Bhd.

The actives included Sapura Energy Bhd, UMW Oil & Gas Bhd, Matang Bhd, EA Holdings Bhd, Hubline Bhd, Sino Hua-An International Bhd, Diversified Gateway Solutions Bhd, PUC Bhd and KNM Group Bhd.

The decliners included Malaysia Pacific Industries Bhd, MISC Bhd, Mercury Industries Bhd, Hong Leong Industries Bhd and Sime Darby Plantation Bhd warrant.

Asian stocks resumed their ascent on Friday, supported by U.S. earnings optimism and a rise in oil prices while the euro edged higher as the European Central Bank signalled an end to its massive stimulus, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, following two straight sessions of decline. Japan's Nikkei dipped 0.1 percent, it said.

Hong Leong IB Research in a traders’ brief said as the uptrend continues on Wall Street, investors remain optimistic on the upcoming earnings season.

“Meanwhile, the firmer Brent crude oil prices, could sustain energy shares for the time being. The Dow may challenge the next psychological level of 26,000.

“Similarly, we think the positive sentiments may spillover towards stocks on Bursa Malaysia.

“Meanwhile, after few days of consolidation, we could expect mild bargain hunting activities among O&G stocks. The FBM KLCI could perform a technical rebound as 30-min chart is oversold, targeting 1,830-1,840,” it said.