KUALA LUMPUR (Dec 29): The FBM KLCI reversed its loss and clawed back above the 1,780-point level at the midday break today.

At 12.30pm, the FBM KLCI rose 1.28 points to 1,780.38. The index had earlier fallen to its intra-morning low of 1,777.73.

Gainers led losers at 330 to 308, while 519 counters traded unchanged. Volume was 1.64 billion shares valued at RM876 million.

The gainers included Hengyuan Refining Company Bhd, Nestle (M) Bhd, Wang-Zheng Bhd, Fraser & Neave Holdings Bhd, Hong Leong Financial Group Bhd, Petron Malaysia Refining & Marketing Bhd, CCM Duopharma Biotech Bhd, PPB Group Bhd and Malaysia Airports Holdings Bhd.

The actives included Sino Hua-An International Bhd, Diversified Gateway Solutions Bhd, Key Asic Bhd, Trive Property Group Bhd, NetX Holdings Bhd, Hibiscus Petroleum Bhd, Nova MSC Bhd, PUC Bhd and Sapura Energy Bhd.

The losers included British American Tobacco (M) Bhd, Panasonic Manufacturing Malaysia Bhd, Hartalega Holdings Bhd, Pharmaniaga Bhd, Batu Kawan Bhd, Petronas Gas Bhd, Keck Seng (M) Bhd, Ajinomoto (M) Bhd and Enra Group Bhd.

Asian markets were ending 2017 in a party mood on Friday after a year in which a concerted pick-up in global growth boosted corporate profits and commodity prices, while benign inflation kept central banks from taking away the monetary punch bowl, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.2% as three straight weeks of gains left it within a whisker of decade peaks. The index has been on an upward trajectory for pretty much all of 2017, putting it 33% higher for the year so far, it said.

Affin Hwang IB senior associate director and head of retail research Datuk Dr Nazri Khan Adam Khan said it is the last trading day for 2017 and regional stock markets are likely to remain upbeat and eager to close the year on high notes.

"For our local market, recovery in crude oil prices, steady economics numbers and steady ringgit augurs well for the market.

"Today, market participants are likely to focus on index link stocks while the second and third liners might be busy with rotational plays. Accumulate quality stocks on price weakness," he said.