KUALA LUMPUR (Feb 27): The FBM KLCI clawed back to above the 1,700-point level at mid-morning today,lifted by select blue chips.

At 10.05am,  the index rose 4.61 points to 1,702.05.

The top gainers included Danainfra Nasional Bhd, British American Tobacco (M) Bhd, Panasonic Malaysia Manufacturing Bhd, PPB Group Bhd, Petronas Dagangan Bhd, KESM Industries Bhd, Allian Malaysia Bhd, Apex Healhcare Bhd, Kuala Lumpur Kepong Bhd and Genting Plantations Bhd.

The actives included AT Systemization Bhd, Sterling Progress Bhd, KNM Group Bhd, Perisai Petroleum Teknologi Bhd, Daganga NeXchange Bhd, Borneo Oil Bhd and Hibiscus Petroleum Bhd.

The losers included Kawan Food Bhd, United U-Li Corp Bhd, Tasek Corp Bhd, IQ Group Bhd, Globetronics Technology Bhd, Aeon Co (M) Bhd and Sarawak Plantations Bhd.

Asian stocks look set to edge lower for a second day on Monday as weak cues from U.S. share markets and declining European government bond yields on political worries push investors to take profits after a recent rally, according to Reuters.

Markets are holding in recent broad trading ranges, and interest is turning to U.S. President Donald Trump's policy speech to a joint session of Congress on Tuesday night where he is expected to provide clues on his plans to cut taxes, it said.

Hong Leong IB Research said with the buying interest still positive on Wall Street, it expects the momentum could sustain the Dow towards the next resistance around the 21,000 psychological level.

“Traders may still be positive ahead of Trump’s address to the joint session of Congress on Tuesday, awaiting Trump’s economic plan.

“Nevertheless, we revise the trailing support towards the 20,600 level.

“Over on our local bourse, shares may trade on a weaker tone after the FBM KLCI breached below the 1,700 level, coupled with the softer crude oil prices. Next support will be anchored around 1,680, followed by 1,660,” it said.