KUALA LUMPUR (Aug 14): The FBM KLCI staged a mild technical rebound at mid-morning today in line with gains at most regional markets.

At 10am, the FBM KLCI rose 2.53 points to 1,769.49.

Gainers led losers by 283 to 179, while 277 counters traded unchanged. Volume was 290.29 million shares valued at RM176.56 million.

The top gainers included KESM Industries Bhd, Malaysian Pacific Industries Bhd, Panasonic Manufacturing Malaysia Bhd, Aeon Credit Service (M) Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Ajinomoto (M) Bhd, Genting Malaysia Bhd, Bison Consolidated Bhd and UEM Edgenta Bhd.

The actives included Dagang NeXchange Bhd, Mlabs Systems Bhd, Hubline Bhd, Frontken Corp Bhd, mTouche Technology Bhd, Bioalpha Holdings Bhd and Sanichi Technology Bhd.

The decliners included Batu Kawan Bhd, Petronas Gas Bhd, Borneo Aqua Harvest Bhd, Bursa Malaysia Bhd and Malaysia Smelting Corp Bhd.

Asian stocks bounced on Monday after three losing sessions, tracking a firmer Wall Street, while the dollar was weighed down by weak U.S. inflation data which dampened prospects of another Federal Reserve interest rate hike later this year, according to Reuters.

Investors awaited a batch of Chinese data due later in the session (0200 GMT), including industrial output and retail sales. The readings are expected to show continued solid growth but markets are edgy after softer-than-expected trade data last week, it said.

Hong Leong IB Research in a traders’ brief said it believes that the environment could have stabilised at the moment following a knee-jerk reaction last week and investors may look for opportunity this week on oversold stocks for further technical rebound possibility.

“Meanwhile, investors could be focusing on the Fed's meeting minutes that will be released on Wednesday.

“Similarly, on the local front, sentiments might turn marginally positive after the heavy selling activities last week.

“The FBM KLCI could be due for a technical rebound and might trade towards 1,770 over the near term amid bargain hunting tone from the investors,” it said.