KUALA LUMPUR (June 8): The FBM KLCI reversed its earlier loss and crossed 1,660-point level at mid-morning today.

At 10.03am, the FBM KLCI edged up 0.20 points to 1,660.82.

The top gainers included Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, PPB Group Bhd, UMW Holdings Bhd, Petronas Gas Bhd, Lii Hen Industries Bhd, Ajiya Bhd and Public Bank Bhd.

The actives included Sumatec Resources Bhd, Bumi Armada Bhd, SapuraKencana Petroleum Bhd, KNM Group Bhd, AWC Holdings Bhd, O&C Resources Bhd and IFCA MSC Bhd.

The decliners included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Kossan Rubber Industries Bhd, Southern Acids Bhd, Axiata Group Bhd and MISC Bhd.

Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the U.S. Federal Reserve will not raise interest rates in the coming months after a disappointingly weak U.S. jobs report, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat after hitting a near six-week high the previous day. Japan's Nikkei was also flat, it said.

Hong Leong IB Research said it expects the local benchmark key index to stage another follow-through technical rebound today, given overnight follow-through rebounds in Dow; appreciation in Ringgit against USD; gain in Brent crude oil price; and its bullish technical readings.

“A decisively breach above 1665 will drive key index higher towards 1670 – 1680 zones.

“Having said that, overall sentiment remains cautious ahead of FOMC meeting on 14-15 this month; uncertainty surrounding the looming BREXIT; as well as higher expectation of lower market consensus for the FBM KLCI year-end target due to lackluster local earnings result,” it said.