KUALA LUMPUR (Aug 16): The FBM KLCI pared some of its gains at mid-morning today, as its momentum indicators remained neutral.

At 9.50am, the FBM KLCI was up 0.13 points to 1,772.52. The index had earlier risen to a high of 1,773.71.

The gainers included Aeon Credit Service (M) Bhd, British American Tobacco (M) Bhd, OSK Ventures International Bhd, Heineken Malaysia Bhd, REV Asia Bhd, Ornapaper Bhd, Cahya Mata Sarawak Bhd, ViTrox Corp Bhd and Hengyuan Refining Company Bhd.

The actives included Anzo Holdings Bhd, Kronologi Asia Bhd, REV Asia, Mlabs Systems Bhd, Felda Flobal Ventures Holdings Bhd, Malaysian Resources Corp Bhd and AirAsia X Bhd.

The losers included Fraser & Neave Holdings Bhd, Kuaka Lumpur Kepong Bhd, Malaysian Pacific Industries Bhd, Genting Plantations Bhd, Spritzer Bhd, HCK Capital Group Bhd,United Plantations Bhd and Gas Malaysia Bhd.

The dollar hoarded hefty gains on Wednesday after strong U.S. retail data put a Federal Reserve rate hike back on the agenda, while Asia stocks inched ahead as tensions over North Korea simmered down little, according to Reuters.

North Korean leader Kim Jong Un has delayed a decision on firing missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim, it said.

Kenanga IB Research said investors returned to Asian markets as U.S-North Korea tensions eased.

It said following the rest of Asian markets, the FBM KLCI closed higher at 1,772.39 with 1.31 points or 0.07% gain.

The research house said market-wide sentiment was positive with 523 gainers against 329 losers while 366 shares traded unchanged.

“From a charting perspective, the FBM KLCI opened higher before a temporary dip, only to close higher as investors continued to accumulate from last week’s sell off.

“Momentum indicators remained neutral, suggesting a directionless trade with downside bias.

“Immediate support can be found at 1,764 (S1) with a stronger level located at 1,750 (S2),” it said.