KUALA LUMPUR (Oct 15): The FBM KLCI pared some of its gains at the midday break today while regional markets rose to 2 month highs.

At 12.30pm, the FBM KLCI gained 6.44 points to 1,717.58. The index had earlier risen to its intra-morning high of 1,721.34.

Gainers led losers by 380 to 328, while 298 counters traded unchanged. Volume was 1.41 billion shares valued at RM1.22 billion.

The top gainers included Ajiya Bhd, SAM Engineering & Equipment Bhd, MISC Bhd, Malaysia Airports Holdings Bhd, Ibraco Bhd, Hong Leong Bank Bhd, Hap Seng Consolidated Bhd, Guiness Anchor Bhd, Top Glove Corporation Bhd, Hong Leong Financial Group Bdh and Public Bank Bhd.

The actively traded stocks included XOX Bhd, Frontken Corporation Bhd, Privasia Technology Bhd, Idimension Consolidated Bhd, Iris Corporation Bhd, Genetec Technology Bhd and AirAsia Bhd.

The decliners included Nestle (M) Bhd, Genting Plantations Bhd, Oriental Holdings Bhd, Gamuda Bhd, Latitude Tree Holdings Bhd, Pharmaniaga Holdings Bhd and Rapid Synergy Bhd.

Asian shares rose to 2-month highs on Thursday and the dollar struggled near multi-week lows after weak U.S. economic data added to expectations that the Federal Reserve will delay hiking interest rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.6 percent to its highest since mid-August. The index had fallen the previous day after soft consumer inflation in China added to concerns about the world's second-biggest economy, it said.

Hong Leong IB Research said as the FBM KLCI had surged 13.8% or 208 points since hitting a low of 1503 on Aug 24 to 1,711 on Oct 13, it was ripe for pullback, tracking profit taking consolidations in MSCI Asia Pacific index, Dow and Brent oil prices.

“Sentiment will remain cautious as Ringgit resumed its downtrend against the greenback as it had weakened 1.7% in the last three sessions.

“Key resistances are 1729-1741 while supports fall on 1686-1700,” it said.