KUALA LUMPUR (Oct 26): The FBM KLCI is seen making limited gains today despite the rally at most global markets.

At 9am, the FBM KLCI rose 4.37 points to 1,715.30.

The top gainers included Kuala Lumpur Kpeong Bhd, British American Tobacco (M) Bhd, Petronas Dagangan Bhd, Lafarge Malaysia Bhd, UMW Holdings Bhd, MISC Bhd, Power Root Bhd, Sime Darby Bhd, Genting Plantations Bhd and Telekom Malaysia Bhd.

Asian stocks on Monday were close to wiping out all their losses since China's shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates to shore up faltering growth in the world's second-largest economy, according to Reuters.

Japan's Nikkei rose 1.0 percent to a two-month high while South Korea's Kospi gained 0.4 percent and the Australian shares edged up 0.3 percent, it said.

JF Apex Securities Research in a market preview today said US markets surged after tech counters registered better-than-expected earnings.

Similarly, it said European stocks rallied after China's central bank reduced interest rates.

“On the local bourse, the FBM KLCI ended 5.84 points higher at 1710.93 points after coming off an intra-day high of 1717.49 points.

“Following the bullish performance in global markets, we expect the FBM KLCI advance towards its resistance of 1730 points,” it said.