KUALA LUMPUR (Feb 18): The FBM KLCI rose 0.83% at the midday break as index-linked blue chip stocks rallied in line with bullish regional markets.

At 12.30pm, the FBM KLCI rose 14.02 points to 1,678.34.

Gainers led losers by 474 to 266, while 320 counters traded unchanged. Volume was 983.55 million shares valued at RM859.47 million.

The top gainers included Kuala Lumpur Kepong Bhd, British American Tobacco (M) Bhd, Genting Bhd, Lafarge Malaysia Bhd, MISC Bhd, Concrete Engineering Product Holding Bhd, Suiwah Corporation Bhd, Sime Darby Bhd and Public Bank Bhd.

The actives included Xidelang Holdings Bhd, JAG Bhd, APFT Bhd, Nexgram Holdings Bhd, Berjaya Corporation Bhd, Sumatec Resources Bhd and SKH Consortium Bhd.

The losers included Dutch Lady Milk Industries Bhd, Genting Plantations Bhd, SAM Engineering & Equipment Bhd, Top Glove Corporation Bhd, LPI Capital Bhd and Hartalega Holdings Bhd.

Asian stocks rose across the board on Thursday as crude oil extended gains on hopes that big producers will cap production, improving investor sentiment for riskier assets, according to Reuters.

Crude oil remained the main market driver. US crude was up 1.7% at US$31.19 a barrel following a 7% jump on Wednesday after Iran voiced support for a Russia-Saudi-led move to freeze production to deal with the market glut that had pushed prices to 12-year lows, it said.

BIMB Securities Research said that in Asia, key indices ended mostly higher with strong gains in Japan and China.

It said back home, the FBM KLCI ended flat, losing 0.67 points or 0.04% to 1,664.32.

"Trading participation saw net selling by local institutions and retail while foreign institutions were net buyers.

"We expect the local market to trend higher today following overnight gains at most global markets with the index [hovering] in the region 1,665–1,675," it said.