KUALA LUMPUR (Aug 22): The FBM KLCI ticked higher but remained below the crucial 1,600-point level at mid-morning today as local investors stayed cautious.

At 10.05am, the FBM KLCI added 2.32 points to 1,596.91.

Gainers led losers by 239 to 216, while 318 counters traded unchanged. Volume was 626.34 million shares valued at RM283.91 million.

The top gainers included Heineken Malaysia Bhd, G3 Global Bhd, British American Tobacco (M) Bhd, Amway (M) Holdings Bhd, Petronas Gas Bhd, QL Resources Bhd, UWC Bhd and Hong Leong Bank Bhd.

The actives included Vsolar Group Bhd, Berjaya Land Bhd, NetX Holdings Bhd, Jaks Resources Bhd, Green Packet Bhd, Sapura Energy Bhd, Bumi Armada and MNC Wireless Bhd.

The decliners included Allianz Malaysia Bhd, Batu Kawan Bhd, United Plantations Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd and Petronas Dagangan Bhd.

Asian shares edged ahead on Thursday after Wall Street got a boost from strong retail results, while bonds retreated as US policy makers sounded conflicted on whether to cut interest rates as sharply as markets were wagering, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1%, continuing the see-saw pattern of recent sessions, it said.

Hong Leong IB Research said that despite the US Federal Reserve's meeting minutes reaffirming the stance of a "mid-cycle adjustment", investors will be watching the speech that will be delivered by Fed chair Jerome Powell this Friday at the Jackson Hole, Wyoming symposium, where he may provide some clues on the future policy outlook.

"Besides, market participants are awaiting further developments on trade war between US and China in the upcoming discussion that will be resuming by September, should it provide some optimism in crafting some trade deals, we may anticipate further upward momentum on Wall Street.

"Tracking the positive performance on Wall Street overnight, we expect buying support to emerge on the local front at least for today.

"We opine traders could look into several sectors such as technology (on a lookout for 2QCY19 results) and plantation (on the back of strong surge in CPO (crude palm oil) prices) for short-term trading opportunities. The FBM KLCI is likely to retest the 1,600 level today," it said.