KUALA LUMPUR (Feb 23): The FBM KLCI advanced at mid-morning today, in line with the gains at the regional markets.

At 10.30am, the FBM KLCI rose 3.56 points to 1,858.63.

Losers led gainers by 343 to 325, while 348 counters traded unchanged.

Volume was 1.31 billion shares valued at RM474.78 million.

The gainers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, Apex Healthcare Bhd, Hengyuan Refining Company Bhd, Top Glove Corp Bhd, Public Bank Bhd and SAM Engineering & Equipment (M) Bhd.

The actives included Mah Sing Group Bhd, Toyo Ink Group Bhd and Malaysian Resources Corp Bhd warrants, DGB Asia Bhd, Sino Hua-An International Bhd, Berjaya Land Bhd and PUC Bhd.

The losers included Ge-Shen Corp Bhd, Petron Malaysia Refining & Marketing Bhd, Malaysian Pacific Industries Bhd, Hong Leong Financial Group Bhd, Malaysia Smelting Corp Bhd, Unisem (M) Bhd, C.I. Holdings Bhd and Manulife Holdings Bhd.

Asian shares rebounded on Friday as comments from a Federal Reserve (Fed) official eased worries that the central bank might raise rates more aggressively this year, while the safe-haven yen held on to its gains amid heightened volatility across markets, according to Reuters.

Financial markets have fluctuated wildly this month as investors fretted about how fast the Fed might raise rates in the wake of data showing a pickup in US inflation. That in turn has stoked anxiety that many central banks will start to tighten policy in a hit to earnings, which have boomed thanks to a synchronized uptick in global growth, it said.

Hong Leong IB Research in a traders' brief said traders may continue to focus on the fluctuation of treasury yield and the market is likely to reassess the potential impact of a higher interest rate environment.

"Hence, Wall Street may extend its consolidation phase over the near term after the sharp rebound three weeks back.

"On the local front, we believe the recent consolidation phase may be a good entry point to selected GLCs ahead of the widely anticipated GE14 this year.

"At the same time, traders could monitor stocks movement during the ongoing reporting season to participate in potential explosive move should there be companies reporting stronger-than-expected results," it said.