KUALA LUMPUR (March 10): The FBM KLCI reversed its earlier losses and rose at mid-morning in line with the gains at most regional markets.

At 10.02am, the FBM KLCI rose 4.07 points to 1,690.42.

The top gainers included Kossan Rubber Industries Bhd, Huat Lai Resources Bhd, Kuala Lumpur Kepong Bhd, Hartalega Holdings Bhd, Cycle & Carriage Bintang Bhd, Karex Bhd, SAM Engineering & Equipment Bhd, Petronas Chemicals Group Bhd, Top Glove Corporation Bhd, Hong Leong Financial Group Bhd and Aeon Credit Services (M) Bhd.

The actives included AirAsia X, XOX Bhd, AirAsia Bhd, Ho Wah Genting Bhd, Bioaplha Holdings Bhd, Chin Hin Group Bhd, KNM Group Bhd and Sunzen Biotech Bhd.

The decliners included Enra Group Bhd, Latitude Tree Holdings Bhd, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd, Lay Hong Bhd, Fraser & Neave Holdings Bhd and PPB Group Bhd.

Asian stocks edged up on Thursday after New Zealand surprised markets with a rate cut, keeping investors primed for more stimulus from the European Central Bank later in the day as global policy makers step up efforts to support their wobbly economies, according to Reuters.

A rebound in the price of oil, a source of recent anxiety, also calmed investor nerves, it said.

Hong Leong IB Research said ahead of the upcoming central banks meetings by ECB (10 Mar), FOMC (15-16 Mar) and BOJ (14-15 Mar), recent unsuccessful attempts to close above the 1700 psychological resistance and weakening technical indicators, KLCI is expected to consolidate its recent gains.

“Key supports are 1657-1675 while resistance levels are 1700-1710,” it said.