KUALA LUMPUR (Aug 1): The FBM KLCI rose 0.48% at mid-morning today as stocks of index-linked banks lifted the local benchmark index.

At 10.01am, the FBM KLCI rose 8.05 points to 1,661.31.

The top gainers included British American Tobacco (Malaysia) Bhd, New Hoong Fatt Holdings Bhd, Public Bank Bhd, Ajinomoto (Malaysia) Bhd, KESM Industries Bhd, Fraser & Neave Holdings Bhd, Hong Leong Bank Bhd, CIMB Group Holdings Bhd and UMW Holdings Bhd.

The actives included TH Heavy Engineering Bhd, Vivocom Intl Holdings Bhd, XOX Bhd, PDZ Holdings Bhd and AirAsia X Bhd.

The decliners included Hong Leong Financial Group Bhd, PPB Group Bhd, SAM Engineering & Equipment (M) Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd and TSH Resources Bhd.

Asian shares ticked up slightly on Monday after disappointing US economic growth data reduced expectations of a rate hike by the US Federal Reserve in the next few months, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% in early trade, staying near its one-year high hit last week, it said.

Hong Leong IB Research said that taking cue from lower close in the Dow Jones last Friday and persistent oil price correction which could spook renewed worries on Malaysia fiscal position as well as ringgit performance, the FBM KLCI is likely to extend its sideways consolidation this week, ahead of the start of August reporting season (likely to be another tepid 2Q16).