KUALA LUMPUR (Dec 2): The FBM KLCI recovered from its plunge on the final trading day of November and off December on a positive note, as data showed Malaysia’s PMI hits 14-month high in November.

At 9.05am, the FBM KLCI rose 2.12 points to 1,563.86.

The gainers included PPB Group Bhd, QL Resources Bhd, Hong Leong Bank Bhd, Daibochi Bhd, Lingkaran Trans Kota Holdings Bhd, Petronas Gas Bhd and Mega First Corp Bhd.

Bloomberg reported stocks in Asia were set for a muted start to December as investors weighed data on China’s economy that showed a bright spot for manufacturing and the latest news on the trade front. The Australian dollar rose.

Futures pointed marginally higher in Tokyo and Hong Kong. The S&P 500 Index dipped on Friday. On U.S.-China trade: the Global Times reported that China’s government wants tariffs to be rolled back as part of the phase one trade deal with the U.S. Oil was in focus after Iraq said OPEC and its allies will consider deeper production cuts, it said.

JF Apex Securities Research said US market declined on Friday as investors took profit amid fresh uncertainty on the US-China trade deal after President Trump signed a bill that supports Hong Kong protests.

It said that similarly, European stocks tumbled after escalating trade tension

“On the local market, the FBM KLCI plunged 22.03 points to 1561.74 points.

“Following the bearish sentiment, the FBM KLCI could trend lower towards the support of 1550 points,” it said.