KUALA LUMPUR (Jan 10): The FBM KLCI was up 0.54% at mid-morning today, against the backdrop of cautious regional markets.
At 10am, the FBM KLCI was up 9.13 points to 1,676.96.
Gainers led losers by 283 to 247, while 280 counters traded unchanged. Volume was 1.05 billion shares valued at RM450.4 million.
The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Genting Plantations Bhd, MISC Bhd, Tenaga Nasional Bhd, Maxis Bhd and S P Setia Bhd.
The actives included Bumi Armada Bhd, Sapura Energy Bhd, KNM Group Bhd, Datasonic Group Bhd, Hibiscus Petroleum Bhd, Sino Hua-An International Bhd and My EG Services Bhd.
The decliners included Panasonic Manufacturing Malaysia Bhd, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd, Unisem (M) Bhd, UMW Holdings Bhd, Batu Kawan Bhd, Pentamaster Corp Bhd, Scientex Bhd and AirAsia Group Bhd.
Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was a tad lower, trading not far off a near four-week high, the newswire said.
Hong Leong IB Research said after several days of bullish rebound and hitting near the resistance region of 24,000-24,175 zone for the Dow, there may be profit-taking activities emerging over the near term.
"Should there any be negative surprises from corporate earnings next week or negative trade developments over the near term, we may expect increased volatility moving forward.
"We believe positive sentiment on Wall Street may spill over towards stocks on the local bourse and the FBM KLCI could retest the recent high of 1,687.
"Also, traders may focus within the oil and gas stocks on the back of firmer recovery in Brent oil prices, adding 4.63% overnight to US$61.44 (RM254.24)," the research house said.