KUALA LUMPUR (Dec 19): The FBM KLCI rose 0.64% at the midday break today, lifted by gains including at Public Bank Bhd and the Genting group.
At 12.30pm, the FBM KLCI rose 10.48 points to 1,645.79.
Gainers led losers by 340 by 234, while 396 counters traded unchanged. Volume was 1.09 billion shares valued at RM895.9 million.
The top gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd, Public Bank, Heineken Malaysia Bhd, Sime Darby Plantation Bhd, Genting Bhd, Dutch Lady Milk Industries Bhd, Genting Malaysia Bhd and SAM Engineering & Equipment (M) Bhd.
The actives included Hibiscus Petroleum Bhd, Sapura Energy Bhd, Genting Malaysia, V.S. Industry Bhd, Prestariang Bhd, Hubline Bhd, Sanichi Technology Bhd and Bumi Armada Bhd.
The decliners included Dialog Group Bhd, Yinson Holdings Bhd, Top Glove Corp Bhd, Amway (M) Holdings Bhd, United Plantations Bhd, Aeon Credit Service (M) Bhd, Hartalega Holdings Bhd and Apex Healthcare Bhd.
Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the US Federal Reserve might be done with tightening after its policy meeting later in the session, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%, while Shanghai blue chips were flat, it said.
Affin Hwang Capital Research said Asian markets opened low in the early trade this morning.
It said the FBM KLCI Index was expected to firm up as selling pressures gradually subsided — external factors remain the source of volatility.
"Present volatility in the global major markets, particularly the US and Europe, should be converted into opportunity by wise investors as stocks reached their oversold level.
"Blue chips, dividend-based stocks and index-linked stocks anticipated to experience steady accumulation thus support in the near future.
"Anticipate strong buying interests to emerge if the FBM KLCI Index continues to slide below 1,630. Key support range for the FBM KLCI: 1,630-1,600, while key resistance range: 1,750-1,780," it said.