KUALA LUMPUR (March 28): The FBM KLCI struggled to stay above the 1,750-point level in the morning session today.

At 12.30pm, the FBM KLCI was up 4.69 points to 1,749.64. The index had earlier risen to its intra morning high of 1,756.27.

Gainers led losers by 404 to 314, while 418 counters traded unchanged. Volume was 1.73 billion shares valued at RM953.67 million.

The top gainers included Nestle (M) Bhd, KESM Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Hong Leong Bank Bhd, Malaysian Pacific Industries Bhd, Genting Bhd, Globetronics Technology Bhd, Hap Seng Consolidated Bhd and AMMB Holdings Bhd.

The actives included Dataprep Holdings Bhd, Scomi Group Bhd, Naim Indah Corp Bhd, Olympia Industries Bhd, Sanichi Technology Bhd, Trive Property Group Bhd and Sterling Progress Bhd.

The top losers included Rapid Synergy Bhd, Teck Guan Perdana Bhd, United Plantations Bhd, Dutch Lady Milk Industries Bhd, Suiwah Corp Bhd, Allianz Malaysia Bhd and Pos Malaysia Bhd.

Asian stocks advanced on Tuesday after Wall Street steadied and the US dollar bounced from a four-month low, as anxiety over Donald Trump's setback on healthcare reform gave way to tentative hopes for the US President's planned stimulus policies, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6%, it said.

Kenanga IB Research said the FBM KLCI kicked off the week marginally in the black underpinned by the firmer ringgit against the greenback at RM4.4135/USD, amid improved economic growth forecast from Bank Negara Malaysia.

"Besides, growing scepticism over President Trump's ability to push through his economic policies had also dampened the US dollar, spurring the ringgit to its four-month high.

"Nonetheless, market breadth was leaning towards the bearish-bias with 556 decliners outpacing 376 advancers," it said.

The research house said that at the closing bell, the FBM KLCI shed 0.8 points or 0.05% to close at 1,744.95 yesterday.

Chart-wise, it said the local bourse is currently consolidating sideways within the 1,740–1,750 range.

"With the daily relative strength index and Stochastic neutralising from the overbought levels on the back of flattish MACD, the FBM KLCI is likely to continue on its consolidation mode this week.

"Overhead resistance levels are spotted at 1,750 (R1)/1,760 (R2), with supports seen at 1,740 (S1)/1,727 (S2)," it said.