KLCI reverses loss, rises 0.51% in line with regional markets

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KUALA LUMPUR (Dec 23): The FBM KLCI reversed its earlier loss and rose 0.51% at mid-morning today in line with the regional markets.

At 10am, the FBM KLCI rose 8.36 points to 1,651.62 points.

The top gainers included Nestle (M) Bhd, Magni-Tec Industries Bhd, Kuala Lumpur Kepong Bhd, Only World Group Holdings Bhd, PPB Group Bhd, Maxis Bhd, Gas Malaysia Bhd and Petronas Gas Bhd.

The actives included Instacom Group Bhd, Asia Media Bhd, Karambunai Corporation Bhd, SMTrack Bhd, Hibiscus Petroleum Bhd, Frontken Corporation Bhd and Genetec Technology Bhd.

The top losers included Hong Leong Bank Bhd, Lay Hong Bhd, Kossan Rubber Industries Bhd, P.I.E. Industrial Bhd, Top Glove Corporation Bhd and Boustead Holdings Bhd.

Asia shares edged higher on Wednesday following a modest bounce on Wall Street, while the dollar drifted lower and the slump in oil prices paused if only for a day, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.2% to the highest in almost two weeks. Australia's main index added 0.75%, it said.

Hong Leong IB Research said that on the back of mild recovery in oil prices and positive performance in the overseas markets overnight, the FBM KLCI is expected to record another gain today following a 14.8-point rebound yesterday.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)