KLCI pares gains, stays up 0.3% at break

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KUALA LUMPUR (April 26): The FBM KLCI pared some of its gains at the midday break today despite the uptrend at most regional markets.

At 12.30pm, the FBM KLCI was up 5.72 points to 1,857.65. The index had earlier risen to a high of 1,863.57.

Gainers led losers by 300 to 206, while 529 counters traded unchanged. Volume was 1.17 billion shares valued at RM813.58 million.

The top gainers included Fraser & Neave Holdings Bhd, Top Glove Corp Bhd, United Plantations Bhd, Hengyuan Refining Co Bhd, Carlsberg Brewery Malaysia Bhd, Hartalega Holdings Bhd, DiGi.Com Bhd, Malayan Banking Bhd and Kossan Rubber Industries Bhd.

The actives included Sapura Energy Bhd, Nexgram Holdings Bhd, SKH Consortium Bhd, Borneo Oil Bhd, Maxwell International Holdings Bhd, Sumatec Resources Bhd and UCrest Bhd.

The decliners included Nestle (M) Bhd, British American Tobacco (M) Bhd, Allianz Malaysia Bhd, Heineken Malaysia Bhd, Caely Holdings Bhd, Axiata Group Bhd and MISC Bhd.

Asian stocks rose on Thursday as robust corporate earnings helped Wall Street quell concerns about the surge in US bond yields, while the US dollar hovered near 3½-month highs against a basket of currencies, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan bounced back from three-week lows plumbed the previous day and gained 0.35%, it said.

Affin Hwang Capital Research said regional markets were expected to be mixed today following a rebound in the US market in the last trading session.

It said technology stocks were the culprit of recent sliding amid a raft of earnings while the spike in the US treasury yields sparked.

"For the local market, the FBM KLCI anticipated to continue to be soft with downward bias in tandem the global market. Accumulate quality stocks on price weakness," it said.