KUALA LUMPUR (July 9): The FBM KLCI clawed back to above the 1,700-point level at the midday break today, after the benchmark index reversed its losses.

At 12.30pm, the FBM KLCI was up 5.88 points to 1,701.71. The index had earlier fallen to its intra morning low of 1,685.03.

Gainers led losers by 401 to 295, while 295 counters traded unchanged. Volume was 1.07 billion shares, valued at RM794.55 million.

The top gainers included Globetronics Technology Bhd, WCT Holdings Bhd, AMMB Holdings Bhd, Latitude Tree Holdings Bhd, RHB Capital Bhd, IOI Corporation Bhd, Kuala Lumpur Kepong Bhd, Berjaya Auto Bhd, Top Glove Corporation Bhd and Inari Amertron Bhd.

The most actively-traded stocks included Multi-Sports Holdings Bhd, AirAsia Bhd, Frontken Corporation Bhd, KNM Group Bhd, APFT Bhd, AiraAsia X Bhd and Eden Inc Bhd.

The top losers included British American Tobacco (M) Bhd, Manulife Holdings Bhd, Hartalege Holdings Bhd, Amway (M) Holdings Bhd, Power Root Bhd, Panasonic Malaysia Manufacturing Bhd, Petronas Dagangan Bhd and Pharmaniaga Holdings Bhd.

An index of Asian shares reversed course and rose on Thursday, as a slide in battered Chinese stocks was stemmed, at least temporarily, while the safe-haven yen was nudged off highs scaled against the dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan, often held hostage to volatile Chinese stocks, was down 0.9 percent early in the day, but then was up 0.8 percent. During Wednesday, it touched a 17-month low, it said.

BIMB Securities Research said in Asia, stocks ended largely lower, after a relentless selloff in Chinese shares.

It said the local market was also affected by major selloff in regional markets, as the FBM KLCI fell 16.47 points or 0.96% to 1,695.83.

“Trading participation saw net selling by foreign institutions, while local institutions and retail were net buyers.

“We expect the local market to remain weak today, following the continuous selloff by foreign investors and negative sentiment all over the world, with strong support at 1,680 level,” it said.