KUALA LUMPUR (April 30): The FBM KLCI reversed its earlier loss and rose 0.18% at mid-morning today, lifted by Malayan Banking Bhd, against the backdrop of weaker regional markets.

At 10am, the FBM KLCI was up 3 points to 1,640.40. The index had earlier slipped to a low of 1,634.54.

Gainers led losers by 253 to 234, while 283 counters traded unchanged. Volume was 505.83 million shares valued at RM268.75 million.

The gainers included Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, MISC Bhd, Amway (M) Holdings Bhd, Unisem (M) Bhd, Malayan Banking Bhd, Aeon Credit Service (M) Bhd, Pentamaster Corp Bhd, Petronas Gas Bhd and Mega First Corp Bhd.

The actives included Karex Bhd. KNM Group Bhd, Tiger Synergy Bhd, Ekovest Bhd and DWL Resources Bhd.

The decliners included Nestle (M) Bhd, Kuala Lumpur Kepong Bhd, Lotte Chemical Titan Holding Bhd, Spritzer Bhd and Woodlandor Holdings Bhd.

Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues of whether it will continue to take a "patient" approach to interest rate policy, according to Reuters.

Traders were also cautious ahead of readings on China's factory activity (0100 GMT), hoping for more signs that the world's second-largest economy is starting to stabilise in response to a flurry of stimulus measures, it said.

Hong Leong IB Research said with the S&P500 and Nasdaq marking its all-time-high for a few sessions recently, it may attract profit-taking activities over the near term.

"At this juncture, investors are awaiting more clarity on the trade developments as there are several ongoing trade discussions between the US and China that may provide further clues on the trade resolution moving forward.

"On a side note, traders will monitor for clues on interest rate outlook in the upcoming FOMC (Federal Open Market Committee) meeting," the research house said.

On the FBM KLCI, it said the buying interest may stay tepid over the near term as traders could be adapting to the T+2 environment for the time being.

"Also, the lack of fresh catalysts in the markets could be capping the upside potential on the local bourse. Investors are likely to stay (on the) side lines ahead of the heavy reporting season in May," it said.