KUALA LUMPUR (Apr 27): The FBM KLCI pared some of its gains at the midday break as some mild profit taking limited the uptrend at the local market today.

At 12.30pm, the FBM KLCI was up 0.29 points to 1,862.87. The index had earlier risen to its intra-morning high of 1,867.53.

Losers, however, led gainers by 420 to 270, while 324 counters traded unchanged. Volume was 976.64 million shares valued at RM775.17 million.

The top gainers included DanaInfra Nasional Bhd, British American Tobacco (M) Bhd, Petronas Dagangan Bhd, Muhibbah Engineering Bhd, Khind Holdings Bhd, Tasek Corporation Bhd, Oriental Food Industries Bhd, Batu Kawan Bhd and Unisem (M) Bhd.

The top actively-traded counters included Compugates Holdings Bhd, Vsolar Group Bhd, KNM Group Bhd, Frontken Corporation Bhd, Genetec Technology Bhd, Systech Bhd and Nova MSC Bhd.

The top decliners included United Plantations Bhd, Atlan Holdings Bhd, Inari Amertron Bhd, Guinness Anchor Bhd, SCGM Bhd, Malaysian Pacific Industries Bhd, Axiata Group Bhd and Kuala Lumpur Kepong Bhd.

Asian shares scaled seven-year highs following stellar earnings from a few US hi-tech giants, but investors were cautious ahead of central bank meetings this week in the US and Japan and on deadlock in creditors' talks with Greece, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7% while Japan's Nikkei was flat, it said.

Hong Leong IB Research said that following a 16.5 points rally last Friday, the FBM KLCI’s daily and weekly oscillators were turning more supportive for the index to retest its second key resistance near 1,878 this week.

“Nevertheless, we expect gyrations ahead (especially entering into a seasonally volatile month in May) with formidable resistance at 1,896 (all time high), following its impressive 11.5% surge from 1,671,” it said.