KUALA LUMPUR (March 12): The FBM KLCI continued trading in positive territory after midday break today, as concerns surrounding the U.S.’ import tariffs and the U.S.-North Korea tensions eased. 

At 3pm, the KLCI stood 0.87% or 15.99 points higher at 1,859.91 with a positive market breadth, as gainers outstripped decliners at 538 versus 307. Meanwhile, 385 counters traded unchanged at press time. 

The benchmark index had opened higher at 1,851.66, before breaching the resistance level to reach 1,861.23 by mid-morning. 

Buying support was noted in heavyweights such as Nestle (M) Bhd and Petronas Gas Bhd.  

AmInvestment Bank Bhd, in a note this morning, predicted the KLCI to rise today after global stocks closed last week on a strong note — with the Nasdaq Composite Index hitting a record high, supported by the labour market and hopes of improving relations between the U.S. and North Korea. 

U.S. President Donald Trump had agreed to accept an invitation from the North Korean leader to meet by May, after months of escalating tensions over Pyongyang’s advancing nuclear and missile programmes. 

Hong Leong Investment Bank also expected more positive developments on Bursa Malaysia. 

“After a series of downward candles on the FBM KLCI, we believe that the key index could revisit the resistance along 1,860, while the support will be anchored around 1,830 to 1,840 points,” the research house said in a note.