KUALA LUMPUR (July 14): The FBM KLCI clawed back and rose 0.54% at the midday break Tuesday, as index-linked glove makers led the gainers list, against the backdrop of shaky regional markets.

At 12.30pm, the FBM KLCI rose 8.68 points to 1,615.11. The index had earlier slipped to a low of 1,601.48.

Broader market sentiment was cautious with losers leading gainers by 441 to 230, while 660 counters traded unchanged. Trading volume was a robust 5.01 billion shares valued at RM4.11 billion.

Gainers included Supermax Corp Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd, Comfort Gloves Bhd, Nestle (Malaysia) Bhd, Careplus Group Bhd, Rubberex Corp Bhd, Adventa Bhd and Kuala Lumpur Kepong Bhd.

The actively traded stocks included PDZ Holdings Bhd, Careplus, MQ Technology Bhd, Iris Corp Bhd, Comfort, AT Systematization Bhd, Sanichi Technology Bhd and HLT Global Bhd.

The decliners included Fraser & Neave Holdings Bhd, Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd, KESM Industries Bhd and Hap Seng Consolidated Bhd.

Reuters said Asian stock markets slipped on Tuesday, oil sagged and a safety bid supported the US dollar as simmering Sino-US tensions and fresh coronavirus restrictions in California kept a lid on investor optimism as earnings season gets underway.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2%. Japan's Nikkei retreated from a one-month high touched on Monday, dropping 0.8%. A firm US dollar put pressure on the Aussie and kiwi, it said.

JF Apex Securities Research said US markets ended mixed overnight after giving up intraday gains with the Nasdaq falling 2% amid corporate earnings and higher coronavirus cases.

It said that earlier, European stocks climbed following hopes of a potential coronavirus vaccine.

“On the local market, the FBM KLCI surged 14.59 points to 1,606.43 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could take a breather from recent gains and hover below the resistance of 1,615 points,” it said.