KUALA LUMPUR (Feb 16): The FBM KLCI rose 0.7% at the midday break today as regional markets extended their gains.

At 12:30pm, the FBM KLCI rose 11.68 points to 1,661.64. The index had earlier risen to a high of 1,663.40.

Gainers outpaced losers by 409 to 294, while 268 counters traded unchanged. Volume was 946.49 million shares valued at RM742.67 million.

The top gainers included Genting Bhd, UMW Holdings Bhd, Latitude Tree Holdings Bhd, Hong Leong Financial Group Bhd, Kuala Lumpur Kepong Bhd, Axiata Group Bhd, CIMB Group Holdings Bhd, Malaysian Pacific Industries Bhd and Focus Lumber Bhd.

The actives included Hubline Bhd, SKH Consortium Bhd, Sumatec Resources Bhd, Tiger Synergy Bhd, JAG Bhd, Perisai Petroleum Teknologi Bhd, AirAsia X Bhd, Berjaya Corporation Bhd and APFT Bhd.

The top decliners included Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, TIME dotCom Bhd, Globetronics Technology Bhd, LPI Capital Bhd, Apollo Food Holdings Bhd and QL Resources Bhd.

Asian shares extended their gains on Tuesday as a combination of stabilising Chinese markets, a rebound in oil prices and solid US consumption data drove investors to look for bargains after last week's rout, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6%, with Chinese bank shares leading the gains after a surprise jump in China's bank lending data, it said.

AffinHwang Capital Research said the FBM KLCI was anticipated to continue its volatility amid concerns on "hard landing" in China and gloomy growth outlook for global economy.

"Domestic front sees Malaysia's economic data remain positive despite smaller trade surplus.

"Technically, low trading volumes and negative market breadth may lead to more consolidation in the near future.

"The FBM KLCI may rebound in tandem with global markets, but volatility remains. Buy on weakness," it said.