KUALA LUMPUR (April 13): The FBM KLCI reversed its earlier losses and clawed into positive territory at mid-morning today, but gains are seen limited.
At 10.04am, the FBM KLCI gained 1.89 points to 1,846.20.
The top gainers included United Plantations Bhd, Nestle (M) Bhd, Malayan Banking Bhd, Dutch Lady Milk Industries Bhd, PPB Group Bhd, Bintulu Port Holdings Bhd, Scientex Bhd and Aeon Credit Services (M) Bhd.
The actively traded stocks included Frontken Corporation Bhd, Kanger International Bhd, Kronologi Asia Bhd, Eti tech Corporation Bhd, Netx Holdings Bhd and Pasukhas Group Holdings Bhd.
The top losers included Pestech International Bhd, Hong Leong Financial Group Bhd, IJM Plantations Bhd, Fraser & Neave Holdings Bhd, Genting Plantations, Eastern & Oriental Bhd and Hartalega Holdings Bhd.
Asian shares got off to a shaky start on Monday as recent rallies offered traders a profit-taking opportunity, while the dollar edged away from recent peaks in early trading, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent after touching its highest levels since September in the previous week, it said.
Hong Leong IB Research said the FBM KLCI may extend its profit taking to neutralise its overbought positions.
“However, any pullback will be well-absorbed near 1820-1830 amid positive expectations from Invest Malaysia conference, the upcoming 11th Malaysia Plan and the prospects of foreign inflows.
“Key resistances are 1858-1878 levels,” it said.