KUALA LUMPUR (July 30): The FBM KLCI staged a mild rebound at mid-morning today, but any gain is seen limited given the still tepid local investor sentiment.

At 10am, the FBM KLCI rose 0.68 points to 1,699.67. The inde had earlier dipped to a low of 1,695.66.

The top gainers included British American Tobacco (M) Bhd, Pharmaniaga Holdings Bhd, Fraser & Neave Holdings Bhd, Only World Group Holdings Bhd, Hong Leong Industries Bhd, Evergreen Fibreboard Bhd, Lingkara Trans Kota Holdings Bhd, Poh Huat Resources Bhd, NCB Holdings Bhd and Top Glove Corporation Bhd.

The actives included Pesona Metro Holdings Bhd, Karambunai Corporation Bhd, Datasonic Group Bhd, Privasia Technology Bhd, Abric Bhd and Sunway Construction Group Bhd.

The top losers included Malaysian Pacific Industries Bhd, UMW Holdings Bhd, YSP Southeast Asat Holdings Bhd, Kuala Lumpur Kepong Bhd, Nestle (M) Bhd, KPJ Healthcare Bhd and Gamuda Bhd.

Asian shares were firm on Thursday after the U.S. Federal Reserve said it saw the economy and jobs continuing to strengthen, helping lift the dollar as traders bet that higher U.S. interest rates were around the corner, according to Reuters.

Japan's Nikkei rose 0.8 percent while Australian shares tacked on 0.3 percent and South Korean shares gained 0.2 percent, it said.

Hong Leong IB Research said that as investors continue to assess the political and economic repercussions of recent surprise cabinet reshuffle and removals of Deputy PM and Attorney General as well as ongoing 1MDB scandals, any rebound is likely to be capped at stiff resistances near 1738 (2 July high) and 1746 (61.8% FR) territory.

“On the flipside, a decisive breakdown 1685 (9 July low) will spur index lower to 1672 (17 Dec) levels,” it said.