KUALA LUMPUR (Apr 16): The FBM KLCI struggled to sustain its gains at the midday break today amidst choppy trade and some profit taking activities.

At 12.30pm, the FBM KLCI was up 0.34 points to 1,848.28. The index had earlier climbed to its intra-morning high of 1,852.95.

The top gainers included Syarikat Takaful Malaysia Bhd, Aeon Credit Services (M) Bhd, Public Bank Bhd, Oriental Food Industries Bhd, Dutch Lady Milk Industries Bhd, Oriental Holdings Bhd, Muhibbah Engineering Bhd, Fututec Bhd and Coastal Contracts Bhd.

The top actively traded counters included Frontken Corporation Bhd, Xinghe Holdings Bhd, Talam Transform Bhd, Century Logistics Holdings Bhd, Nova MSC Bhd and Sumatec Resources Bhd.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Panasonic Malaysia Manufacturing Bhd, PPB Group Bhd, Hong Leong Bank and Genting Bhd.

An index of Asian shares edged away from fresh seven-year highs on Friday but was still on track to score weekly gains, while the dollar languished after lacklustre US economic data made a near-term interest rate hike appear less likely, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped slightly after earlier touching its highest level since January 2008, but was still on track for a weekly gain over 1%, it said.

BIMB Securities Research said that in Asia, the picture was prettier with foreign funds being rather active in the region.

It said that within the SEA region, except for Singapore the others all charted positive gains despite some profit taking activities seen in both the Philippines and Indonesia.

Locally, it said the FBM KLCI was 7.81 points higher at 1,847.94 supported by the return of foreign buying.

“Yesterday saw a net foreign inflow of RM172.4 million into the local bourse pushing net total inflow for this week so far to RM293.3 million.

“We expect the index to remain in a tight range oscillating between the 1,845/50 range,” it said.