KUALA LUMPUR (June 13): The FBM KLCI reversed its earlier losses at mid-morning and crept above the 1,790-point level.

At 10am, the FBM KLCI added 2.50 points to 1,791.39.

The top gainers included Nestle (M) Bhd, Hong Leong Bank Bhd, Dutch Lady Milk Industries Bhd, YSP Southeast Asia Holding Bhd, Pharmaniaga Bhd, CIMB Group Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Kossan Rubber Industries Bhd and Genting Plantations Bhd.

The actives included Asia Bioenergy Technologies Bhd, Felda Global Ventures Holdings Bhd, Frontken Corporation Bhd, AT Systematization Bhd, Priceworth International Bhd and Malayan United Industries Bhd.

The losers included Malaysian Pacific Industries Bhd, Bintulu Port Holdings Bhd, LPI Capital Bhd, Khind Holdings Bhd, Globetronics Technology Bhd, KESM Industries Bhd, Batu Kawan Bhd and ViTrox Corp Bhd.

Asian stocks crept higher on Tuesday, defying a weak lead from Wall Street, which was dragged lower by technology stocks for a second day, while the Canadian dollar soared on the possibility interest rates might go up sooner than expected, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1% in early trade, it said.

Hong Leong IB Research said that in the US, investors will remain on the sidelines ahead of the two-day FOMC meeting.

"Also, we opine that the profit-taking activities within the tech giants will take a pause after the recent two-day selldown and the Dow may trend within the 21,000–21,500 levels over the near term.

"Meanwhile, tracking the softer sentiments across the region, upside to the FBM KLCI will be capped around the 1,790–1,800.

"Also, we expect the overheated semiconductor rally last week could take a breather over the next few days following the selloffs in tech stocks on Wall Street," it said.