KUALA LUMPUR (June 6): The FBM KLCI reversed its earlier losses and rose 0.33% at the midday break in line with the gains at most regional markets.

At 12.30pm, the FBM KLCI rose 5.74 points to 1,760.88. The index had earlier slipped to its intra-morning low of 1,751.03.

Gainers led losers by 382 to 211, while 555 counters traded unchanged. Volume was 1.9 billion shares valued at RM1.31 billion.

The top gainers included British American Tobacco (M) Bhd, Lafarge Malaysia Bhd, KESM Industries Bhd, Astro Malaysia Holdings Bhd, Nestle (M) Bhd, Gabungan AQRS Bhd, Petron Malaysia Refining & Marketing Bhd, Public Bank Bhd, Cahya Mata Sarawak Bhd, Hengyuan Refining Company Bhd and Hong Leong Bank Bhd.

The actives included Sapura Energy Bhd, Cuscapi Bhd, My E.G. Services Bhd, TH Heavy Engineering Bhd, Sino Hua-An International Bhd, Velesto Energy Bhd and Iris Corp Bhd.

The losers included Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd, Aeon Credit Services (M) Bhd, Petronas Gas Bhd, Hong Leong Industries Bhd, Sime Darby Plantation Bhd, Heineken Malaysia Bhd and MISC Bhd.

Asian stocks rose on Wednesday after tech sector strength lifted Wall Street shares while concerns about Italy's debt prompted investors to move into lower-risk government debt elsewhere, pushing US Treasury yields down from recent highs, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, as did Japan's Nikkei, it said.

Affin Hwang Capital Research said US markets saw tech-heavy index Nasdaq closing at record high contributed by positive news around Apple's new software and app, growing Amazon sales and Microsoft-GitHub takeover.

However, it said the rest of the markets struggled for gains as trade tension continued to bog down market sentiment.

The research house said European markets mostly close lower with FTSE100 being the worst performer in the region.

It said banking stocks were hit the hardest following news of UK government selling part of its stake in RBS.

"In Asia, banking and oil companies in Japan experienced loss in the last trading session while the Hang Seng Index rose, led by developers and tech stocks.

"The FBM KLCI Index closed flat on Tuesday. The index may open mixed with slight downward bias today as MoF reveals that two gas pipeline projects, Multi-Product Pipeline from Jitra to Melaka and Trans-Sabah Gas Pipeline, have seen 88% of fund used but only 13% of work done.

"This might dampen sentiments on construction sector in the near term while the tech sector likely to be the main focus for investors today," it said.