KUALA LUMPUR (Aug 14): The FBM KLCI stayed in positive territory at mid-morning today but gains were limited in line with the more subdued regional markets.

At 10.03am, the FBM KLCI was up 0.85 points to 1,622.90.

Teh top gainers included Hong Leong Bank Bhd, Hong Leong Financial Group Bhd, Luxchem Corporation Bhd, UEM Edgenta Bhd, Fraser & Neave Holdings Bhd, Tasek Corporation Bhd, AMMB Holdings Bdh, Malayan Banking Bhd and Guinness Anchor Bhd.

The actively traded stocks included Ingenuity Consolidated Bhd, Tiger Synergy Bhd, IFCA MSC Bhd, APFT Bhd, Frontken Corporation Bhd, AirAsia Bhd and Unisem (M) Bhd.

The losers included British American Tobacco (M) Bhd, Carlsberg Brewery (M) Holdings Bhd, UMW Holdings Bhd, My E.G. Services Bhd, Genting Plantations Bhd, Top Glove Corporation Bhd, SapuraKencana Petroleum Bhd, YSP Southeast Asia Holdings Bhd, Vitrox Corporation Bhd, Tan Chong Motor Holdings Bhd and Unisem (M) Bhd.

Asian shares were subdued in early trade on Friday, but still on track for a steep weekly loss in the wake of China's shock currency devaluation earlier in the week, according to Reuters.

Crude oil futures remained under pressure, plunging to 6½-year lows after data revealed a big rise in US stockpiles, fuelling fears of a growing global glut, it said.

BIMB Securities Research said that in Asia, key indexes rebounded after China's central bank soothed markets saying there was no basis for further yuan depreciation, prompting buyback in defensive shares.

It said that back home, the FBM KLCI rebounded, finishing 11.69 points or 0.73% higher at 1,621.62 with strong buying mainly on banking stocks.

“Trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.

“We reckon the local market to remain its uptrend today given the attractive valuation while the fear over China’s currency devaluation is deemed to be over and expect to see immediate resistance at 1,630,” it said.