KUALA LUMPUR (Sept 30): The FBM KLCI reversed its earlier losses and ticked upward at mid-morning today in line with the steadying regional markets.

At 10.02am, the FBM KLCI was up 6.23 points to 1,609.55. The index had earlier dipped to a low of 1,601.54.

The top gainers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd, PPB Group Bhd, Sarawak Oil Palms Bhd, Petronas Gas Bhd, MISC Bhd, IOI Corporation Bhd, Maxis Bhd and IQ Group Bhd.

The actives included The Media Shoppe Bhd, AirAsia Bhd, Tiger Synergy Bhd, UEM Sunrise Bhd, IFCA MSC Bhd and Berjaya Corporation Bhd.

The top losers included MESB Bhd, Keck Seng (Malaysia) Bhd, Dutch Lady Milk Industries Bhd, Lay Hong Bhd, Gamuda Bhd and IJM Plantations Bhd.

Most Asian stock markets steadied on Wednesday after sliding to three-year lows but a weak outlook for commodities and persistent concerns about China's economy discouraged most buyers, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade after plumbing its lowest since June 2012 on Tuesday on fears that China's slowdown would curb its huge appetite for commodities and resources, it said.

Hong Leong IB Research said that in the wake of nagging internal (politics, 1MDB saga, sliding ringgit, weakening economic and corporate earnings growth coupled with renewed fears of a downgrade in Malaysia's credit rating) and external (extended slowdown in China economy and the timing of Fed’s lift-off) headwinds, the FBM KLCI’s near term outlook will remain choppy.

“Key supports are 1,561–1,596 while resistances are 1,619–1,646,” it said.

(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.)