KUALA LUMPUR (Dec 12): The FBM KLCI stayed flat this this morning in line with its regional peers, despite a report from the International Monetary Fund (IMF) that Malaysia’s real gross domestic product (GDP) growth is projected at 5.0%–5.5% in 2018.

At 9.05am, the FBM KLCI added 0.14 points to 1,719.61.

The gainers included Malaysia Pacific Industries Bhd, OldTown Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd, Mercury Industries Bhd, Hengyuan refining Company Bhd, Sime Darby Property Bhd, Yinson Holdings Bhd, British American Tobacco (M) Bhd and MESB Bhd.

Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in U.S. borrowing costs this week, according to Reuters.

The latest upbeat news came from China where banks doled out a surprisingly generous dose of credit in November, which could bode well for a pick up in retail sales and industrial output due later in the week, it said.

JF Apex Securities Research in a market preview said US markets climbed overnight after being led by energy and technology counters despite an explosion near Times Square.

It said that earlier, European stocks ended slightly lower ahead of meetings by the US Federal Reserve and the European Central Bank this week.

“On the local market, the FBM KLCI shed 1.78 points to 1719.47 points.

“Following the recent lacklustre performance and the absence of catalyst, the FBM KLCI is expected to continue hover between 1700 and 1730 points,” it said.

Meanwhile, the IMF said Malaysia’s real GDP growth has surprised on the upside and is projected at 5.5%–6% percent for 2017, driven by domestic demand and robust exports, while inflation has increased on the back of higher oil prices and is projected at close to 4%.

The IMF’s Nada Choueiri said real GDP growth is projected at 5.0%–5.5% in 2018.