KUALA LUMPUR (Oct 9): The FBM KLCI breached the psycologically crucial 1,700-point level at the opening bell today in line with the gains at regional markets.

At 9am, the FBM KLCI rose 10.58 points to 1,702.78.

The top gainers included Petronas Gas Bhd, PPB Group Bhd, Genting Plantations Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, MISC Bhd, Pestech International Bhd, UMW Holdings Bhd, Deleum Bhd, Tenaga Nasional Bhd and LPI Capital Bhd.

Asian shares rose on Friday, taking their cue from a jump in oil prices as well as gains on Wall Street after minutes of the Federal Reserve's latest meeting led investors to further pare bets that the central bank will hike interest rates this year, according to Reuters.

Oil prices climbed to their highest in three months on Thursday, after forecaster PIRA Energy Group predicted crude prices would rise to $70 per barrel by the end of 2016, it said.

JF Apex Securities Reseaerch in a market preview today said U.S. stocks closed higher yesterday, with the Dow and S&P above key psychological levels of 17000 points and 2000 points respectively, as investors digested the Federal Reserve's September meeting minutes.

Similarly, it said European markets eked out gains on higher oil price.

“On the local front, the FBM KLCI inched up marginally by 2.95 points or 0.17% yesterday to close at 1692.20 points.

“We expect the local bourse to test its resistance of 1700 points today on positive US lead and gains in oil prices,” it said.