KUALA LUMPUR (Oct 8): The FBM KLCI reversed its earlier losses and trended higher at mid-morning today, in line with gains at regional markets.

At 10am, the FBM KLCI was up 1.79 points to 1,691.04.

The top gainers included Axiata Group Bhd, UMW Holdings Bhd, Kuala Lumpur Kepong Bhd, Public Bank Bhd, Ibraco Bhd, Globetronics Technology Bhd, Hong Leong Industries Bhd, Luxchem Corporation Bhd and Affin Holdings Bhd.

The actively traded stocks included KNM Group Bhd, iDimension Consolidated Bhd, China Automobile Parts Holdings Bhd, Perisai Petroleum Teknologi Bhd, Bumi Armada Bhd, Genetec Technology Bhd, Sumatec Resources Bhd and IFCA MSC Bhd.

The losers included British American Tobacco (M) Bhd, Lafarge Malaysia Bhd, Genting Plantations Bhd, PPB Group Bhd, Kossan Rubber Industries Bhd, Berjaya Sports Toto Holdings Bhd, Sime Darby Bhd, Dutch Lady Milk Industries Bhd, Gamuda Bhd, Sarawak Oil Palms Bhd and Top Glove Corporation Bhd.

Asian stocks rose modestly on Thursday, taking their cue from gains on Wall Street as the region braced for a resumption of trading in the Chinese markets after a week-long break, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.3%, supported by South Korea's Kospi rising 0.5% and Australian shares climbing 0.9%. Japan's Nikkei bucked the trend and lost 0.2% on a stronger yen, it said.

Hong Leong IB Research said following yesterday’s strong downtrend line breakout and rising volume, the FBM KLCI may trend higher in the near term, supported by positive catalysts such as expectations of potential delay in Fed’s liftoff to 1Q16, additional rollouts of stimulus measures by global central bankers to support weakening global economy, speculation that ValueCap Sdn Bhd will soon enter into the market, potential inflows of foreign funds and recovery in ringgit.

“Key resistances are 1,700–1,729 whilst supports fall on 1,643–1,670,” 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.)