KUALA LUMPUR (Oct 23): The FBM KLCI gained 0.16% at the midday break today, in line with the advance at most regional markets.

At 12.30pm, the FBM KLCI rose 2.86 points to 1,743.51.

Gainers edged losers by 300 to 288, while 514 counters traded unchanged. Volume was 1.63 billion shares valued at RM818.77 million.

The gainers included Dutch Lady Milk Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Nestle (M) Bhd, Chin Teck Plantations Bhd, Petronas Gas Bhd, Adventa Bhd, Bursa Malaysia Bhd, PPB Group Bhd, Hengyuan Refining Company Bhd and Hong Leong Financial Group Bhd.

The actives included Trive Property Group Bhd, Notion VTec Bhd, Hubline Bhd, Anzo Holdings Bhd, APFT Bhd, Vivocom Intl Holdings Bhd, Cuscapi Bhd and Hibiscus Petroleum Bhd.

The losers included Heineken Malaysia Bhd, Kuala Lumpur Kepong Bhd, KESM Industries Bhd, Genting Plantations Bhd, Scientex Bhd, Latitude Tree Holdings Bhd, Jaks Resources Bhd and BIMB Holdings Bhd.

Most Southeast Asian stock markets rose on Monday after Wall Street's record finish in the previous session, with Singapore hitting a more than two-year high ahead of the release of September inflation data later in the day, according to Reuters.

All three US stocks indexes hit record closing highs on Friday after the senate passed a budget resolution that will allow Republicans to pursue a tax-cut package without Democratic support, lifting hopes that President Donald Trump's tax-cut plan may move forward, it said.

Affin Hwang IB vice president and head of retail research Datuk Dr Nazri Khan Adam Khan said stocks on Bursa Malaysia are anticipated to stage a strong rebound this week "following after overall market perceives as deeply oversold in current pullback phase".

He said investors are expected to focus more on the upcoming Budget 2018 and General Election which are just around the corner.

"Furthermore, development in the US which enables tax bill to be passed with a simple 51-vote majority in the US Senate perceived as positive by the market for Trump to implement his tax plan.

"Small- and mid-cap stocks are expected to continue their rotational play. Buy quality stock on price weakness.

"Downward sliding might [diminish] as investors focus on the 'Budget 2018' this week, FBM KLCI immediate support stays at 1,740-1,700," he said.