KUALA LUMPUR (May 21): The FBM KLCI gained 0.41% at the midday break today in line with the advance at most regional markets as U.S.-China trade tensions eased.

At 12.30pm, the FBM KLCI rose 7.72 points to 1,862.22.

Gainers led losers by 331 to 278, while 533 counters traded unchanged. Volume was 1.53 billion shares valued at RM1.19 billion.

The top gainers included Nestle (M) Bhd, Public Bank Bhd, Allianz Malaysia Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Malaysian Pacific Industries Bdh, LPI Capital Bhd, Petron Malaysia Refining & Marketing Bhd and UMW Holdings Bhd.

The actives included My E.G.Services Bhd, Sapura Energy Bhd, Hibiscus Petroleum Bhd, Sumatec Resources Bhd, Barakah Offshore Bhd, YTL Corp Bhd and UMW Oil & Gas Corp Bhd.

The losers included Cahya Mata Sarawak Bhd, Ajinomoto (M) Bhd, CIMB Group Holdings Bhd, Kossan Rubber Industries Bhd, Genting Plantations Bhd and Hong Leong Bank Bhd.

Most Southeast Asian stock markets rose on Monday, with Singapore gaining about 1 percent, after the United States and China agreed to drop their tariff threats while they work on a wider trade agreement, according to Reuters.  

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent after U.S. Treasury Secretary Steven Mnuchin said on Sunday the U.S. trade war with China was "on hold", it said.

Affin Hwang Capital Researhc said regional markets were anticipated to open on positive note after trade talks between US and China seem to have achieved some common understanding with China agrees to increase its purchases of US goods significantly.

It said this could lead to short-term spikes in early trading of the week. 

“However, toward the end of the week, we anticipate global market to turn soft as technical indicators suggested that major market might succumb to medium term’s consolidation which technically still in progress.

“In short, any rebound the near term likely to be short-lived and as opportunity to distribute overbought stocks.

“On the local front, the FBM KLCI Index remains in the upbeat for short-term horizon and likely to drift higher in early trading sessions. However, the index and stocks as a whole anticipated to move in tandem with the global market toward end of the week,” it said.