KUALA LUMPUR (May 5): The FBM KLCI staged a mild technical rebound at mid-morning today and rose on some bargain hunting activities.

At 10.04am, the FBM KLCI rose 1.40 points to 1,760.07.

The gainers included Malaysian Pacific Industries Bhd, Success Transformer Corp Bhd, ECM Libra Financial Group Bhd, Nestle (M) Bhd, MSM Malaysia Holdings Bhd, British American Tobacco (M) Bhd, Pos Malaysia Bhd, ViTrox Corporation Bhd, Ajinomoto (M) Bhd, JHM Consolidation Bhd and George Kent (M) Bhd.

The actives included Ekovest Bhd, Globaltec Formation Bhd, Trive Property Group Bhd, EA Holdings Bhd, Tiger Synergy Bhd, Anzo Holdings Bhd and Dagang NeXchange Bhd.

The losers included HCK Capital Group Bhd, Perak Corporation Bhd, Dutch Lady Milk Industries Bhd, Hap Seng Consolidated Bhd, IHH Healthcare Bhd, MMC Corporation Bhd, Lafarge Malaysia Bhd and Tan Chong Motor Holdings Bhd.

Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan opened flat on Friday. Japan and South Korea markets are closed for trading, it said.

Hong Leong IB Research said that in the US, investors are likely to focus on the jobs data to gauge the strength of the US economic activities.

"Meanwhile, traders may stay cautious ahead of second round French election on May 7. The Dow may extend its consolidation within the range between 20,900 and 21,178.

"On the local front, after a round of selloffs in the broader market, we opine that the bargain hunting activities may surface within solid fundamental stocks and the KLCI could be due for a short rebound.

"However, upside of the FBM KLCI is likely to be capped around 1,765 amid weaker Brent crude oil prices, which selling pressure might be seen within oil and gas stocks, eventually," it said.