KUALA LUMPUR (March 18): The FBM KLCI extended its gains at mid-morning today and looked poised to re-test the 1,710 level, lifted by key blue chips, in line with the advance at mosr regional markets.

At 10am, the FBM KLCI was up 5.11 points to 1,708.30.

The top gainers included P.I.E. Industrial Bhd, Huat Lai Resources Bhd, Fraser & Neave Holdings Bhd, British American (B) Bhd, Petronas Gas Bhd, Lafarge Malaysia Bhd, Mudajaya Group Bhd, Harbour-Link Group Bhd, PPB Group Bhd and Amway (M) Holdings Bhd.

The actives included SMTrack Bhd, APFT Bhd, AirAsia X Bhd, IFCA MSC Bhd, SKH Consortium Bhd, AirAsia Bhd, Genetec Technology Bhd and Scomi Group Bhd.

The losers included Dutch Lady Milk Industries Bhd, Guiness Anchor Bhd, Carlsberg Brewery (M) Holdings Bhd, Latitude Tree Holdings Bhd, Kossan Rubber Industries Bhd,Top Glove Corporation Bhd and Kobay Bhd.

Asian shares edged higher on Friday, turning positive for the year, while the U.S. dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent in early trade, entering positive territory for the year for the first time during Asian hours, it said.

JF Apex Securities Research said US markets climbed overnight led by material, industrial and transport counters following higher oil prices and the Federal Reserve's announcement a day earlier.

Meanwhile, it said European stocks ended slightly lower despite a rally in mining stocks and the Federal Reserve indicating less rate hike this year. 

“On the local market, the FBM KLCI surged 9.76 points to 1703.19 points.

“Following the positive performance in the US coupled with higher oil prices, the FBM KLCI could retest its resistance of 1710 points today,” it said.