KUALA LUMPUR (Nov 4): The FBM KLCI rose at mid-morning today but gains were seen limited on the lack of fresh domestic catalysts.
At 10.08am, the FBM KLCI gained 5.46 points to 1,683.02.
The top gainers included Petronas Dagangan Bhd, Hong Leong Financial Group Bhd, Petronas Gas Bhd, Panasonic Malaysia Manufacturing Bhd, PPB Group Bhd, YSP Southeast Asia Bhd, Tex Cycle Technologies Bhd, UMW Holdings Bhd and SapuraKencana Petroleum Bhd.
The actively traded stocks included Hibiscus Petroleum Bhd, Idimension Consolidated Bhd, The Media Shoppe Bhd. KNM Group Bhd, Sumatec Resources Bhd, RGB International Bhd and Aemulus Holdings Bhd.
The top decliners included British American Tobacco (M) Bhd, Carlsberg Brewery (M) Holdings Bhd, Can-One Bhd, Genting Plantations Bhd, Latitude Tree Holdings Bhd, SAM Engineering & Euipment Bhd and Lafarge Malaysia Bhd.
Asian shares rose on Wednesday, taking early cues from overnight Wall Street gains, while investors' sharper risk appetite lifted U.S. debt yields and supported the dollar, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent. Australian shares surged 1.3 percent, it said.
Hong Leong IB Research said the long-awaited 13.5-point technical rebound yesterday had boosted the chance for the FBM KLCI to retest 1688-1700 zones, supported by bottoming up technical and expectations that Valuecap will start to invest into the equity market in late Nov or early Dec, coupled with favourable seasonal Nov/Dec performance due to window dressing activities.
“Key supports are 1642-1650,” it said.