KUALA LUMPUR (July 13): The FBM KLCI edged up 0.18% at mid-morning today, lifted by select blue chips in line with the advance at most regional markets.

At 10.01am, the FBM KLCI was up 2.99 points to 1,656.96.

The gainers included Ajinomoto (Malaysia) Bhd, Hong Leong Financial Group Bhd, Dutch Lady Milk Industries Bhd, PPB Group Bhd, Ajiya Bhd, Kuala Lumpur Kepong Bhd, UMW Holdings Bhd, LPI Capital Bhd and Genting Bhd.

The actives included Vivocom International Holdings Bhd, Borneo Oil Bhd, AirAsia Bhd, AirAsia X Bhd, Vsolar Group Bhd and Hiap Teck Venture Bhd.

The decliners included British American Tobacco (M) Bhd, Nestle Malaysia Bhd, Petronas Dagangan Bhd, Fraser & Neave Holdings Bhd, Petronas Gas Bhd, Carlsberg Brewery (M) Holdings Bhd, Malaysian Pacific Industries Bhd and Genting Plantations Bhd.

Asian shares came within reach of testing their 2016 peak on Wednesday as prospects of solid US growth and accommodative economic policy in major countries whet investors risk appetite damaged by uncertainty from Brexit, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% in early trade to 426.62 points, just below its year-to-date high of 428.22. Japan's Nikkei gained 1.9%, it said.

Hong Leong IB Research said that taking cue from a fresh new high in Dow, a strong rebound in oil prices and strong ringgit performance coupled with expectations of more mega projects roll-outs by the government in the near term to stimulate economy, the FBM KLCI is expected to trend higher towards immediate resistances at 1,657–1,666.

“However, we still expect global markets to remain volatile for a while as profit taking may emerge after recent sharp relief rallies as investors grapple with potential Brexit domino impact, anemic global economic growth, rising terrorism risks, the prospects of potential EU shake-up and potential rise in regional geopolitical tensions after an international court rebuked China’s claims over the South China Sea,” it said.