KUALA LUMPUR (Jan 21): The FBM KLCI edged up at mid-morning on Wedneday, while the ringgit extended its dismal run against the US dollar.

At 10am, the FBM KLCI rose 0.35% or 6.27 points to 1,756.38.

The ringgit however weakened 0.41% versus the greenback and was quoted at 3.6223 per US dollar.

The top gainers included British American Tobacco (M) Bhd, Aeon Credit Services (M) Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, VS Industry Bhd, Hap Seng Plantations Bhd, Petronas Chemicals Group Bhd, Favelle Favco Bhd, CIMB Group Holdings Bhd and Genting Bhd.

The top actives included The Media Shoppe Bhd, Iris Corporation Bhd, Sanichi Technology Bhd, Systech Bhd, KNM Group Bhd and Hubline Bhd.

The top losers included Tasek Corporation Bhd, YNH Property Holdings Bhd, Hong Leong Bank Bhd, Syarikat Takaful Malaysia Bhd, Petra Energy Bhd, Globetronics Technology Bhd and Dialog Group Bhd.

Asian shares held firm and the euro stayed under pressure on Wednesday as investors counted on the European Central Bank to unveil a stimulus drive, while the yen was subdued ahead of the Bank of

Japan's policy announcement later in the Asian day, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, although Japan's Nikkei slipped 0.4 percent from a two-week closing high hit on Tuesday after heavy gains in the previous two sessions, it said.

Global share prices have been supported in recent sessions on growing investor conviction that the ECB will adopt quantitative easing at its meeting on Thursday, said Reuters.

BIMB Securities Research said that in Asia, key indexes ended mostly higher with Japanese stocks made their biggest gain in a month on Tuesday, and Chinese stocks bounced back from a selloff, after data showed China’s economy grew faster than expected in the 4Q.

Locally, it said the FBM KLCI ended lower, losing 3.2 points or 0.18% to 1,750.11, dragged down by O&G and gaming counters.

“Trading participation saw net selling from foreign institutions local retail while local institutions were net buyers.

“We expect the local market to remain sideways due to lack of fresh catalysts with the index hovering in the region of 1,745-55,” it said.