KUALA LUMPUR (Jan 15): The FBM KLCI staged a mild rebound at mid-morning today in line with the reprieve at regional markets following the firmer overnight close at Wall Street.
At 10am, the FBM KLCI rose 2.15 points to 1,635.59.
The top gainers included Scientex Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Genting Plantations Bhd, UMW Holdings Bhd, Malaysian Pacific Industries Bhd, Petron Malaysia Refining & Marketing Bhd, C.I.Holdings Bhd, PPB Group Bhd and Top Glove Corporation Bhd.
The actives included Nexgram Holdings Bhd, Instacom Group Bhd, Tiger Synergy Bhd, Scanwolf Corporation Bhd and Aemulus Holdings Bhd.
The decliners included United Plantations Bhd, Enra Group Bhd, Carlsberg Brewery (M) Holdings Bhd, QL Resources Bhd and Genting Bhd.
Asian stocks won a temporary reprieve on Friday after oil prices snapped their eight-day rout, helping to lift battered energy shares even as investors remained on edge as they looked for signs of stability in China's economy and its volatile markets, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan , which hit a four-year low on Thursday, rose 0.5 percent while Japan's Nikkei jumped 1.8 percent, it said.
Hong Leong IB Research said copying technical rallies on Dow and oil prices, the FBM KLCI is likely to stage a technical rebound today to retest 1644-1650 zones.
“However, further rebound would be capped at 1674 (23.6% FR) ahead of the revised Budget 2016, fears of IS-led attack in this region following the Jakarta’s bombing yesterday and external headwinds.
“Key supports remain at 1600-1622,” it said.