KUALA LUMPUR (Feb 19): The FBM KLCI rose 0.69% at mid-morning today in line with the extending recovery at most regional markets.

At 10am, the FBM KLCI rose 12.89 points to 1,851.17.

Gainers led losers by 484 to 104, while 249 counters traded unchanged.

Volume was 612.01 million shares valued at RM312.98 million.

The top gainers included Nestle (M) Bhd, KESM Industries Bhd, Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, Ajinomoto (M) Bhd, Petronas Gas Bhd, Carlsberg Brewery Holdings Bhd, Kuala Lumpur Kepong Bhd, SAM Engineering & Equipment Bhd and British American Tobacco (M) Bhd.

The actives included PUC Bhd, Sino Hua-An International Bhd, Sumatec Resources Bhd, Hibiscus Petroleum Bhd, Borneo Oil Bhd, P.A. Resources Bhd and Sapura Energy Bhd.

The decliners included Hartalega Holdings Bhd, Globetronics Technology Bhd, QL Resources Bhd, Selangor Properties Bhd, Padini Holdings Bhd, Guocoland Holdings Bhd and Selangor Dredging Bhd.

Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, having recovered more than 40 percent of their losses from late last month to last week's low, it said.

Hong Leong IB Research in a traders’ brief said despite recent roller-coaster ride, it remains optimistic of Dow’s near term outlook amid Trump’s tax and spend boom coupled with US strong economy and corporate earnings growth. Nevertheless, choppiness will prevail amid concerns over inflationary pressures and spiking bond yields (which hit a 4-year high at 2.91% on 15 Feb before ending at 2.87% on 16 Feb) ahead of the 20-21 Mar FOMC meeting.

“Stiff resistance is near 25,600 while support falls on 24,000 territory.

“After the holiday-shortened week, positive sentiment on the FBM KLCI may resume towards 1,850 zones, tracking Dow’s recent robust rebound.

“Sentiment is likely to be boosted by ringgit and Brent oil strength coupled with Malaysia’s resilient economy.

“Nevertheless, ongoing Feb reporting season and uncertainty over the upcoming GE14 could dampen sentiments as there is a speculation that Parliament could be dissolved during the 1st session of the 6th Parliamentary meeting, which begins on 5 Mar till 5 Apr,” it said.