KUALA LUMPUR (Nov 9): The FBM KLCI reversed its earlier losses and clawed 0.18% higher at the midday break today, but could not breach the 1,750 level as sellers led buyers.

At 12.30pm, the FBM KLCI reversed its earlier losses and rose 3.16 points to 1,747.36. The index had earlier dipped to its intra-morning low of 1,742.32.

Losers led gainers by 309 to 275, while 539 counters traded unchanged. Volume was 1.46 billion shares, valued at RM885.13 million.

Top gainers included British American Tobacco (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Petronas Gas Bhd, Hengyuan Refining Company Bhd, Genting Bhd, Hong Leong Financial Group Bhd, Top Glove Corp Bhd, United Plantations Bhd and KESM Industries Bhd.

Actives included Key Alliance Group Bhd, Trive Property Group Bhd, MUI Industries Bhd, JAG Bhd, Hubline Bhd, Diversified Gateway Solutions Bhd, PUC Bhd and Sumatec Resources Bhd.

Decliners included Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Panasonic Manufacturing Malaysia Bhd, Enra Group Bhd, Malaysia Airports Holdings Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd.

Asia stocks hovered near a decade high on Thursday, following another record breaking day on Wall Street, while the New Zealand dollar rallied as hawkish-sounding statements by the country's central bank boosted the recently-battered currency, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% and in close reach of a 10-year high set the previous day, Reuters said.

Affin Hwang IB vice president and head of retail research Datuk Dr Nazri Khan Adam Khan said Asian markets are set to gain higher today, following steady performance of the U.S. and Europe in overnight trading.

“Quality mid-capitalisation stocks are expected to be the focus of long term investors, while large index link stocks are anticipated to be lagged as crude oil prices tumble, following strong surge in the U.S. stockpile.

“Small cap stocks anticipated to continue with their rotational play. Accumulate quality stocks on price weakness,” he said.