KUALA LUMPUR (Nov 16): The FBM KLCI added 0.68% at midday break today to remain firmly above the 1,700-point level, although it pared some gains, tracking regional markets.

At 12.30pm, the FBM KLCI rose 11.66 points to 11,705.87. The index had earlier risen to a high of 1,708.96.

Gainers led losers by 398 to 272, while 1,211 counters traded unchanged. Volume was 1.06 billion shares, valued at RM861.63 million.

Top gainers included Nestle (M) Bhd, Apex Healthcare Bhd, Hong Leong Financial Group Bhd, Fraser & Neave Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Dufu Technology Bhd, Dutch Lady Milk Industries Bhd, Petronas Gas Bhd and AirAsia Group Bhd.

The actives included Permaju Industries Bhd, Hibisus Petroleum Bhd, My EG Services Bhd, Saputa Energy Bhd, PUC Bhd, Prestariang Bhd., Key Alliance Group Bhd, Tatt Giap Group Bhd and Orion IXL Bhd.

The decliners included Atlan Holdings Bhd, Eksons Corp Bhd, Latitude Tree Holdings Bhd, Padini Holdings Bhd, British American Tobacco (M) Bhd, Tune Protect Group Bhd and YNH Property Bhd.

Asian shares shed early gains on Friday, after disappointing results from U.S. chipmaker Nvidia Corp hammered its stock and sent selling rippling through the entire tech sector, according to Reuters.

The British pound also lay battered and bruised after a bout of political turmoil fanned fears the country could crash out of the European Union without a divorce deal, it said.

Affin Hwang Capital Research said the FBM KLCI Index finally rebounded, closing higher at 1694.21 after almost a week of losses.

It said the index is finding support at current levels, as selling pressure is seen to be slowing down.

“Anticipate a temporary rebound in the index towards the 1725 level, as Asian markets recover on improved sentiments between US and China (report of China delivering a written response to US demands),” the research house said.