KUALA LUMPUR (Nov 24): The FBM KLCI rose 0.9% at mid-morning on Monday in line with the gains at most regional markets, lifted by blue chips including heavyweigts Tenaga Nasional Bhd and Telekom Malaysia Bhd.

At 10am, the FBNM KLCI rose 18.12 points to 1,827.25

The top gainers included British American Tobacco (M) Bhd, Tenaga, KKB Engineering Bhd, Hong Leong Financial Grop Bhd, Pharmaniaga Holdings Bhd, Telekom, DiGi.Com Bhd, Coastal Contracts Bhd and Axiata Group Bhd.

Minetech Resources Bhd was the most actively traded counter with 78.83 million shares done. The stock rose 3.03 % or half a sen to 17 sen.

The other actives included Privasia Technolgy Bhd, KNM Group Bhd, Masterskill Education Group Bhd, Sumatec Resources Bhd and Technodex Bhd.

The losers included Petronas Dagangan Bhd, Carlsberg Brewery (M) Bhd, Nestle (M) Bhd, Shangri-La Holdings Bhd and UMW Holdings Bhd.

Regionally, Asian share markets were broadly higher on Monday as the prospect of further policy stimulus in China and Europe whetted risk appetites while sending the euro skidding, according to Reuters.

The single currency was near 28-month lows having shed 1.2 percent on Friday when European Central Bank President Mario Draghi surprised by declaring his commitment to fighting deflation, it said.

Hong Leong IB Research said last Friday’s black candlestick removed the reversal signal of “Bullish Engulfing” pattern on daily chart, turning the FBM KLCI into consolidation mode.

“The psychological level of 1,800 would be a critical support zone after 50% Fibonacci level was penetrated last Friday. Next supports are at 1778 and 1760 if 1800 is broken.

“However, the FBM KLCI could stage a technical rebound during this week, which might be shortlived.

“Resistances are 1823 (38.2% FR), 1836 (23.6% FR) and 1850 (downtrend line and 200-d SMA),” it said.