KUALA LUMPUR (Aug 20): The FBM KLCI made limited gains at mid-morning today as regional markets nudged higher modestly.

At 10.05am, the FBM KLCI was up 2.68 points to 1,599.13.

Gainers led losers by 232 to 226, while 302 counters traded unchanged. Volume was 540.99 million shares valued at RM270 million.

The gainers included Petronas Gas Bhd, Guan Chong Bhd, Fraser & Neave Holdings Bhd, Malaysian Pacific Industries Bhd, British American Tobacco (M) Bhd, Hengyuan Refining Company Bhd, Malaysia Airports Holdings Bhd and LPI Capital Bhd.

The actives included Sapura Energy Bhd, Daya Materials Bhd, Icon Offshore Bhd, Naim Holdings Bhd, PUC Bhd, PCCS Group Bhd and Prestariang Bhd.

The decliners included Nestle (M) Bhd, Keck Seng (M) Bhd, Berjaya Sports Toto Bhd, Naim, Bursa Malaysia Bhd and Sime Darby Plantation Bhd.

Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, helping boost riskier assets and drawing money from safe-havens such as bonds and gold, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.04%, while Japan's Nikkei jumped 0.47%. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21%, it said.

Hong Leong IB Research said that with the less negative headlines on the trade war following the licence extension on Huawei, the rebound of Treasury yields, hopes of more stimulus measures globally as well as the optimism of the upcoming trade talks between the US and China in September, Wall Street may trend a little higher over the near term and the Dow may revisit 26,400, with a support pegged around the 200-day simple moving average.

"Tracking the positive sentiment on Wall Street, we believe the buying support may spill over to stocks on the local front especially the technology stocks following the licence extension for Chinese telecom giant to continue its service towards the current clients.

"Also, O&G maintenance players may extend [their] recent upward rebound as price[s] and volumes [were] seen ticking higher yesterday," it said.