KLCI advances in line with regional gains

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KUALA LUMPUR (Feb 23): The FBM KLCI advanced at mid-morning today in line with gains at most regional markets.

At 10.05am, the FBM KLCI rose 7.88 points to 1,682.47.

The top gainers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, Allianz Malaysia Bhd, PPB Group Bhd, Tien Wah Press Holdings Bhd, Lafarge Malaysia Bhd, UMW Holdings Bhd, Hong Leong Financial Group Bhd and Shell Refining Company (Federation of Malaya) Bhd.

The actives included Sumatec Resources Bhd, Scomi Group Bhd, JAG Bhd, Green Packet Bhd, Minetec Resources Bhd, IFCA MSC Bhd, Perisai Petroleum Teknologi Bhd, AirAsia X Bhd and AirAsia Bhd.

The top losers included Box-Pak (Malaysia) Bhd, Cycle & Carriage Bintang Bhd, Pintaras Jaya Holdings Bhd, Ta Ann Holdings Bhd, PJ Development Holdings Bhd and Teo Seng Capital Bhd.

Asian shares rose to a seven-week high on Tuesday as investors took heart from signs of life in battered energy and commodity markets while European currencies are hampered by worries Britain could exit the European Union, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, hitting its highest level since early January. Japan's Nikkei went up 0.8%, led by steelmakers and other commodity-related shares, it said.

Hong Leong IB Research said today Bursa Malaysia is expected to resume its rebound after ending flat yesterday, taking cues from overnight rallies in US and European markets coupled with soaring oil prices.

"Expected trading range is 1,674–1,690," it said.