KUALA LUMPUR (Oct 4): The FBM KLCI rose on bargain hunting at mid-morning today, rising 0.74%.

At 10.02am, the FBM KLCI rose 12.43 points to 1,664.98.

The top gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Lay Hong Bhd, SAM Engineering & Marketing Bhd, Aeon Credit Services (M) Bhd, Scientex Bhd, IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd, Genting Bhd, Sime Darby Bhd, Malayan Banking Bhd and Felda Global Ventures Holdings Bhd.

The actives included Borneo Oil Bhd, Perisai Petroleum Teknologi Bhd, AirAsia X Bhd, Vivocom Intl Holdings Bhd, JAG Bhd, KNM Group Bhd and Bumi Armada Bhd.

The losers included Fraser & Neave Holdings Bhd, Bison Consolidated Bhd, Genting Plantations Bhd, CB Industrial Product Holding Bhd, Amway (M) Holdings Bhd, Teck Guan Perdana Bhd, Pos Malaysia Bhd and SP Setia Bhd.

Asian shares wobbled on Tuesday after fading hopes for a reduced Deutsche Bank (DB) fine and rising expectations of a U.S. interest rate hike pressured Wall Street, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was slightly higher in early trading, while Japan's Nikkei stock index gained 0.6 percent as the dollar rose against the yen, it said.

Hong Leong IB Research said that given the sustainable rebound in oil prices and tapering fears of further systemic risk of DB and mild recovery in ringgit (vs US$), it expects the FBM KLCI to stage a technical rebound this week to retest 1665-1670 levels.

“Key supports remain at 1640-1645 levels, which are cushioned by potential pre-Budget rally and the readiness of Bank Negara Malaysia to support economic growth via easing,” it said.